Finance

Loan Comparison Calculator

Compare personal or home loan offers by EMI, interest rate, fees, tenure, and estimated total repayment.

Complete the highlighted fields with valid values. Results are hidden until the inputs are valid.

Finance comparison tool

Loan Comparison Calculator

Compare two reducing-balance loan offers using monthly EMI, total interest, and the upfront fees you enter.

Lower estimated total cost

Offer A

Estimated cost difference

₹5,44,801.15

Monthly EMI difference

₹2,716.19

The lower EMI is not always the cheaper loan. Compare the full repayment period and fees before choosing an offer.

Offer A

Offer B

Offer A result

Monthly EMI
₹19,694.79
Total interest
₹15,45,062.41
Upfront fees
₹10,000.00
Total cost with fees
₹35,55,062.41

Offer B result

Monthly EMI
₹16,978.60
Total interest
₹20,74,863.56
Upfront fees
₹25,000.00
Total cost with fees
₹40,99,863.56

Planning estimate only. Confirm rate type, APR, fees, insurance, taxes, repayment schedule, and other conditions in each lender's written offer.

Calculation notes

How to use this result with confidence

Method

Each loan option is calculated using the same payment assumptions, then compared by estimated monthly payment, total interest, and total repayment so the inputs remain like-for-like.

Worked example

Two loans with the same principal can have different total costs when one has a higher rate or longer tenure, even if its monthly payment appears lower.

Check before relying on it

The entered upfront fees are included in total cost but are not financed. Insurance, taxes or other costs not entered, floating-rate changes and early repayment are excluded. Read the Key Facts Statement or written offer.

Finance next steps

Understand the result, then compare it

Detailed guide

Loan comparison calculator: compare EMI, interest, fees, and total cost

Review the method, assumptions, and practical checks behind this calculator.

Related calculators

EMI CalculatorFlat vs Reducing Interest Calculator

Test the same decision from another useful angle.

Rates or comparison context

Check current home-loan rate references

Use recent advertised rates as scenarios, then verify the figures in each written offer.

Advertised rate snapshot

Home-loan rates to try in the calculator

Use these advertised figures to compare EMI scenarios without leaving this page. Enter the exact rate from your own written offer before making a borrowing decision.

Last checked 23 September 2026

LenderAdvertised rateApplies toFreshnessVerification
State Bank of India7.25% p.a. onwardsHome Loan Card rate; lender terms and eligibility applyAdvertised effective date: 1 April 2026Official source
Axis Bank8.00%-8.85% p.a.Floating rate for CIBIL score 751 and aboveOfficial page labeled September 2026Official source
Axis Bank8.20%-9.10% p.a.Floating rate for CIBIL 750 or below, or no credit historyOfficial page labeled September 2026Official source

Advertised rates can change and may depend on credit score, income, employment type, loan amount, loan-to-value ratio, product, and other risk checks. They are not approval offers or lender rankings.

This is a dated snapshot, not a live rate feed or a complete market comparison. Open the linked lender page to check the latest figure and confirm the rate applicable to your own application.

Only figures that were verifiable on the linked official lender pages during the last review are listed. Rates from other lenders are intentionally omitted until their current public rate table can be checked.

Guide

Understand your Compare loans result

A loan comparison calculator puts two loan offers side by side so you can compare the monthly EMI, interest, fees, tenure, and estimated total repayment before choosing a lender.

Results are for general information. Review the site disclaimer before using a result for an important decision.

How to compare two loan offers fairly

Use the same loan amount when you want to compare two offers fairly. Enter each offer's annual interest rate, tenure, and known upfront fees from the lender's written information.

A lower interest rate does not always create the lowest overall cost when the tenure is longer or the fees are higher.

Monthly affordability and total cost answer different questions

The EMI shows the estimated monthly commitment. Total repayment shows the estimated instalments across the full tenure, while total cost with fees adds the upfront charges you entered.

A longer tenure can lower the EMI but increase the total interest. Compare both figures before deciding which trade-off fits your budget.

Check what the calculator cannot see

The estimate assumes a constant rate and regular monthly payments. Floating-rate changes, insurance, taxes, compulsory products, late fees, and lender-specific calculations can change the actual outcome.

Review each Key Fact Statement and repayment schedule. Ask the lender to explain any difference between the written total and your planning estimate before accepting an offer.

FAQs

These answers are written for this calculator's inputs, assumptions, and common real-world decisions. They explain what the result can show and where you still need the official document or a qualified professional.

Does the lowest EMI mean the cheapest loan?

No. A lower EMI can come from a longer tenure and may lead to more total interest. Compare total cost as well as the monthly payment.

Which fees should I enter?

Enter known processing or other upfront loan charges. Keep taxes, insurance, and compulsory add-ons in mind when they are not included in the fee figure.

How do I compare two loan offers?

Enter the same borrowing amount for both offers, then compare the EMI, interest, tenure, upfront fees, and estimated total repayment. Verify the final figures against each lender's written offer.

Can this compare floating-rate loans?

It can compare them using the current rates as an illustration, but it cannot predict future rate changes or revised repayment schedules.

Why is the EMI in the lender's offer different from my calculator result?

The lender may calculate the financed amount differently or include an insurance premium, fee, advance instalment, different payment date, rate type, or rounding rule. Compare the amount actually financed, rate, tenure, and repayment schedule line by line with the written offer.

Should I compare the interest rate, EMI, or total repayment first?

Look at all three. The rate helps explain the calculation, the EMI shows monthly affordability, and the total repayment shows the cost over the full tenure. Also compare the upfront fees and the annualised cost shown in the lender's Key Fact Statement.

Can I compare a personal loan and a home loan in this calculator?

You can compare the arithmetic using the same amount and tenure, but the products are not identical. Security, fees, eligibility, tax treatment, rate resets, and repayment conditions can differ, so use the result as a starting point and read each lender's documents separately.

What should I ask the lender before accepting the cheaper-looking offer?

Ask for the Key Fact Statement, the full repayment schedule, the annualised cost, every upfront and recurring charge, the floating-rate reset process, and the prepayment rules. A lower EMI or headline rate is not enough to establish that an offer is cheaper.