Finance

Loan Comparison Calculator

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

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

Monthly EMI difference

₹2,716

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
₹19,695
Total interest
₹15,45,062
Upfront fees
₹10,000
Total cost with fees
₹35,55,062

Offer B result

Monthly EMI
₹16,979
Total interest
₹20,74,864
Upfront fees
₹25,000
Total cost with fees
₹40,99,864

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

A simple comparison may not include processing fees, insurance, taxes, penalties, floating-rate changes, or eligibility conditions. Read the Key Fact 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.

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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.

Current rate reference

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 5 August 2026

LenderAdvertised rateApplies toFreshnessVerification
State Bank of India7.25% p.a. onwardsHome Loan Card rate; lender terms and eligibility applyEffective 1 April 2026Official source
Axis Bank8.00%-8.85% p.a.Floating rate for CIBIL score 751 and aboveOfficial page dated August 2026Official source
Axis Bank8.20%-9.10% p.a.Floating rate for CIBIL 750 or below, or no credit historyOfficial page dated August 2026Official source
Canara Bank7.15% p.a.*Advertised home-loan rate; lender terms and eligibility applyChecked 5 August 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.

Freshness note: ICICI Bank's official standard-rate table was marked valid only through 31 July 2026 when checked, so those figures are not labelled as current here until the bank refreshes the page. Check the official ICICI page.

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

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.