Loan Comparison: 2 Lenders, 25 Lakh Loan
Two close-rate offers on a 25 lakh loan where processing fees, not the rate, decide which is actually cheaper.
Comparing 2 loan offers, Bank B has the lowest total cost of loan at ₹20,32,519, once interest, processing fees, and other charges are all included.
- Loan amount
- ₹25,00,000
- Rate
- 9% p.a.
- Tenure
- 180 months
- Loan amount
- ₹25,00,000
- Rate
- 8.75% p.a.
- Tenure
- 180 months
Bank A
Bank B
Bank A
Monthly EMI
₹25,
Total interest
₹20.64 Lakhs
₹20,64,200
Fees
₹12,
Total cost of loan
₹20.82 Lakhs
₹20,81,700
Bank BRecommended
Monthly EMI
₹24,
Total interest
₹19.98 Lakhs
₹19,97,519
Fees
₹30
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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.