Loan Comparison Calculator — Find the Best Loan Deal
Compare up to 3 loan offers side by side. See which bank gives you the lowest EMI total interest and best overall deal for home car or personal loans.
When multiple banks approve your loan application choosing the right offer can save you lakhs of rupees over the loan tenure. A difference of just 0.5% in interest rate on a Rs 50 lakh home loan for 20 years means a saving of Rs 3.5 lakh in total interest. Our comparison calculator lets you enter details of up to 3 offers and instantly see the difference in EMI total interest and total payment amount helping you make the smartest choice.
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Key Information
| Parameter | Details |
|---|---|
| Impact of 0.5% Rate Difference | Rs 3.5 lakh on Rs 50L/20yr loan |
| Processing Fee Range | 0.25% - 2% of loan amount |
| Key Comparison Factors | EMI, Total Interest, Processing Fee |
| Hidden Costs to Check | Prepayment charges, Insurance, Legal fees |
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Use Calculator NowFrequently Asked Questions
How to compare loan offers from different banks?
Compare loans by looking at four factors in this priority order: (1) Total cost of loan = total interest + processing fee + insurance charges (2) Monthly EMI amount and whether it fits your budget (3) Prepayment and foreclosure charges in case you want to repay early (4) Processing time and documentation requirements. The lowest interest rate does not always mean the cheapest loan due to hidden fees.
Does a lower interest rate always mean lower cost?
Not always. A loan with 8.5% interest and 1% processing fee may cost more than a loan with 8.7% interest and 0.25% processing fee especially for shorter tenures. Also check if the rate is fixed or floating. Floating rates may start low but increase over time. Compare the total cost including all fees for the actual comparison.
Should I choose a fixed or floating rate loan?
Floating rate loans currently start 0.25-0.50% lower than fixed rates and have historically been cheaper over long tenures as the RBI tends to cut rates over economic cycles. However floating rates carry the risk of increase during high inflation periods. For short tenure loans under 5 years fixed rate offers payment certainty. For longer tenures floating is usually more economical.
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Last updated: 24 March 2026