Loan Comparison Calculator

Why Compare Loans?

A 0.5% difference in interest rate on a ₹50L loan over 20 years can save you over ₹3.6L. Comparing loans side-by-side helps you see beyond the monthly EMI and understand the true cost of each option — including fees, tenure impact, and total interest.

Interest vs EMI Tradeoff

A longer tenure reduces your monthly EMI but increases total interest paid. A shorter tenure means higher EMIs but lower total cost. Your choice should balance monthly affordability with long-term financial health. The "sweet spot" minimizes both.

Fixed vs Floating Rate

Fixed Rate: EMI stays constant throughout the tenure. Predictable but usually starts higher. Good when market rates are low.
Floating Rate: Tied to market benchmarks (like repo rate). EMI can go up or down. Usually starts lower but carries uncertainty. Best when you expect rates to stay stable or drop.

Common Mistakes

• Only looking at EMI: A lower EMI often means a longer, costlier loan
• Ignoring fees: Processing fees, insurance, and hidden charges add to effective cost
• Not negotiating: Many lenders offer better rates if you ask
• Overlooking prepayment: Even small extra payments save significant interest
• Ignoring credit score: A better score can get you lower rates