What is it?
The Loan Comparison Calculator puts two loan offers side by side and shows which one is Cheaper overall.
Who is it for?
Anyone choosing between two loan offers from banks, NBFCs or dealers.
How to use it
For Loan A and Loan B, enter the Amount, Rate, Years and Fees (processing fee, documentation, insurance you must buy). Compare each EMI and total cost. The answer appears as you type; there is no Calculate button. Pick your Currency at the top if asked, then tap Copy result or Share on WhatsApp.
Lowest rate isn’t always cheapest
- A slightly lower rate with a big processing fee can cost more, especially on short loans.
- A longer tenure lowers the EMI but raises the total cost a lot. Compare the same number of years for a fair test.
- “Flat rate” loans (common for some personal and vehicle loans) quote a rate on the original amount for the whole term. A 10% flat rate is roughly 18% on a reducing balance. Ask for the reducing-balance rate or APR.
Also check
- Fixed or floating rate, and how the floating rate is linked.
- Prepayment and foreclosure charges.
- Whether insurance is optional; bundled insurance can add a lot.
This is an estimate to help you plan, not financial or tax advice. For big decisions, check the latest rules and talk to a qualified adviser.
Errors and how to fix them
- A result shows a dash (—): a box is empty or has something that is not a number in it, such as a comma or a letter. Type plain digits; use a dot for decimals.
- One loan looks much cheaper but the bank says otherwise: type each loan’s processing fee in Fees and check both use the same Years; a longer tenure lowers the EMI but raises the total interest.
Open the tool: Loan Comparison Calculator
Still stuck?
Contact support. Tell us which tool or page you were using, what you tapped, what you saw, and your phone or computer and browser (for example: Android phone, Chrome). We reply by email.
Questions, or an error not listed here?
Tell us in the comments: what you were doing, the exact message you saw, and your device and browser. We read every comment and add new fixes to this article.