Loan Comparison: 2 Lenders, Different Approved Amounts
Comparing a lender that approves the full requested amount against one that approves less, both at similar rates.
Comparing 2 loan offers, Partial amount lender has the lowest total cost of loan at ₹13,10,273, once interest, processing fees, and other charges are all included.
- Loan amount
- ₹30,00,000
- Rate
- 9% p.a.
- Tenure
- 120 months
- Loan amount
- ₹25,00,000
- Rate
- 9% p.a.
- Tenure
- 120 months
Full amount lender
Partial amount lender
Full amount lender
Monthly EMI
₹38,
Total interest
₹15.6 Lakhs
₹15,60,328
Fees
₹10,
Total cost of loan
₹15.7 Lakhs
₹15,70,328
Partial amount lenderRecommended
Monthly EMI
₹31,
Total interest
₹13 Lakhs
₹13,00,273
Fees
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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.