Loan Comparison Calculator

Compare up to 4 loan offers side by side and see which is actually cheapest once processing fees and other charges are included.

Offer 1

Loan amount

Interest rate (%)

Tenure (months)

Processing fee

Fee value (%)

Other charges

Offer 2

Loan amount

Interest rate (%)

Tenure (months)

Processing fee

Fee value (₹)

Other charges

Which offer is actually cheapest?

Offer 1

Monthly EMI

₹25,357

Total interest

₹20.64 Lakhs

₹20,64,200

Fees

₹12,500

Total cost of loan

₹20.82 Lakhs

₹20,81,700

Offer 2Recommended

Monthly EMI

₹24,986

Total interest

₹19.98 Lakhs

₹19,97,519

Fees

₹30,000

Total cost of loan

₹20.33 Lakhs

₹20,32,519

Frequently asked questions

The advertised rate only tells you the interest cost, not the processing fee, documentation charges, or any bundled insurance a lender adds on top. Two offers with similar rates can end up costing very differently once these one-time charges are included, so total cost of loan is a fairer way to compare.

Yes, and this is one of the most common traps. A lender might quote a lower EMI by approving a slightly smaller loan amount, stretching the tenure, or simply offering a lower rate while charging a much higher processing fee. Always check the total cost of loan, not just the monthly number.

Lenders sometimes approve less than what you asked for based on their own risk assessment of your income and credit profile. Comparing the actual offers on the table, even if the amounts differ, is more useful than comparing on rate alone, since you still need to fund the same purchase.

This covers one-time costs beyond the processing fee: documentation charges, legal or valuation fees, and any insurance the lender bundles into the loan (sometimes required, sometimes optional but pushed hard). Ask your lender for an itemized fee breakdown before signing, since these are often not shown upfront in the advertised rate.

Usually, but not always. Total cost of loan is the best single number for comparing pure cost, but also weigh service quality, disbursal speed, and prepayment flexibility, since a slightly costlier lender with no prepayment penalty could save you more later if you plan to prepay.

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Total cost of loan is total interest plus processing fee plus other one-time charges, compared exactly as each offer is entered. It does not model prepayment, foreclosure charges, or floating-rate resets over the tenure.

Loan Comparison Calculator

Compare up to 4 loan offers side by side and see which is actually cheapest once processing fees and other charges are included.

Offer 1

Loan amount

Interest rate (%)

Tenure (months)

Processing fee

Fee value (%)

Other charges

Offer 2

Loan amount

Interest rate (%)

Tenure (months)

Processing fee

Fee value (₹)

Other charges

Which offer is actually cheapest?

Offer 1

Monthly EMI

₹25,357

Total interest

₹20.64 Lakhs

₹20,64,200

Fees

₹12,500

Total cost of loan

₹20.82 Lakhs

₹20,81,700

Offer 2Recommended

Monthly EMI

₹24,986

Total interest

₹19.98 Lakhs

₹19,97,519

Fees

₹30,000

Total cost of loan

₹20.33 Lakhs

₹20,32,519

Frequently asked questions

Related calculators

Loan Comparison Calculator

Frequently asked questions

Why compare "total cost of loan" instead of just the interest rate?

Can the offer with the lowest EMI still be the worse deal?

Why would I compare offers with different loan amounts?

What counts as "other charges" in this calculator?

Should I always go with the recommended lowest-total-cost offer?

Loan Comparison Calculator

Frequently asked questions

Why compare "total cost of loan" instead of just the interest rate?

Can the offer with the lowest EMI still be the worse deal?

Why would I compare offers with different loan amounts?

What counts as "other charges" in this calculator?

Should I always go with the recommended lowest-total-cost offer?