Reviewed by Artha Research·Last updated 8 April 2026
Loan Comparison Calculator
Compare EMI, total interest, fees, and overall borrowing cost before choosing between loan offers.
Inputs
Compare two loan offers on total cost, not just EMI.
Option A total cost
₹1.3Cr
Option A looks better
It delivers the lower total borrowing cost after combining EMI outgo and upfront fees.
Pick the cheaper option only if lender service, prepayment flexibility, and disbursal speed are also acceptable.
Winner
Option A
Option A EMI
₹53,406
Option A total interest
₹68.2L
Saved vs alternate
₹1.8L
Breakdown
- Option A₹1.3Cr49.7%
- Option B₹1.3Cr50.3%
Benchmarks
Option A vs Option B
+1.0%You
₹1.3Cr
Benchmark
₹1.3Cr
Cheapest EMI is not the cheapest loan
Lower EMI usually comes with longer tenure and more total interest. Total cost is what matters.
Choosing the cheaper option saves a meaningful amount
The total-cost gap is large enough that lender quality and prepayment flexibility are the main remaining factors.
Total saving
₹1.8L
Next best actions
The result hints at what to look at next. Each link carries your current numbers so you never re-enter them.
At a glance
- What it does
- Compares two loan offers on EMI, total interest, processing fees, and the overall lifetime borrowing cost.
- Key insight
- A lower EMI often means longer tenure and more total interest. Rank by total cost, not monthly payment.
- Typical output
- On ₹60L, Bank A (8.85% / 20y / ₹10k fee) vs Bank B (8.2% / 22y / ₹35k fee): Bank B has lower EMI but saves ~₹2L total despite the higher fee.
- Best used for
- Choosing between lender offers before signing, or deciding if a balance transfer is worth the paperwork.
How It Works
This is the drill-down layer. The flagship flow leads with a recommendation, and this page lets you inspect the underlying model.
- Each option uses the standard reducing-balance EMI formula.
- Total borrowing cost = total EMI outgo + processing fees.
- The cheaper total-cost option wins if flexibility and service levels are similar.
Assumptions
The recommendation stays blunt, but the assumptions remain visible.
- Rates are assumed constant for the comparison period.
- Prepayment penalties and floating-rate resets are excluded from the core model.
FAQ
The follow-up questions people usually ask after the main recommendation is already clear.
Should I only compare EMI?
No. A lower EMI can still be more expensive if the tenure is longer or the fees are higher.
When does a refinance become worth it?
Usually when the rate drop is meaningful enough to recover fees quickly and you still have enough tenure left for the savings to matter.
Sources & references
Every formula and assumption above is grounded in these authoritative sources.
Related tools & decisions
Keep going from here — each link carries the same cluster context.
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