Loan Comparison Calculator
Compare two loan offers side by side to see which one costs less overall.
Loan A
Loan B
| Metric | Loan A | Loan B |
|---|---|---|
| Monthly EMI | ₹17,356 | ₹20,285 |
| Total Interest | ₹21,65,552 | ₹16,51,360 |
| Total Payment | ₹41,65,552 | ₹36,51,360 |
Loan B costs ₹5,14,192 less in total payment.
Overview
Compare two loan offers side by side to see which one costs less overall — by monthly EMI, total interest, and total repayment.
Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
Where:
- P = loan principal amount
- r = monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = number of monthly installments (tenure in years × 12)
How to use this calculator
- Enter the loan amount, annual interest rate, and tenure for Loan A.
- Do the same for Loan B.
- Compare the EMI, total interest, and total payment for both — the difference is highlighted automatically.
Note
This calculator compares base EMI, interest, and repayment only. It doesn't account for processing fees, prepayment charges, or other loan-specific costs — factor those in separately when deciding between offers.
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