Core Calculators

Compare Loan Calculator

Compare two loans side by side - EMI, interest and total cost

Loan A

₹
%
yrs

Loan B

₹
%
yrs

Comparison

₹0EMI difference

How loan comparison works

Each loan is calculated independently. Compare monthly EMI and total interest to pick the better offer.

EMI = P × r × (1+r)n / ((1+r)n − 1)
Why use it

Detailed features

Side by side

Two loans compared in one view.

Total interest

See which loan costs more over its life.

Fair compare

Different tenures and rates supported.

On the go

Also in the Toolance app.

Understand the result

What the Compare Loan Calculator tells you

This calculator helps you compare two loan offers by payment and lifetime interest instead of rate alone. It turns a small set of inputs into a clear lower-cost option, then shows the supporting breakdown so you can understand what moved the answer.

Inputs to check

  • Offer A: use a recent statement, quote or realistic assumption.
  • Offer B: use a recent statement, quote or realistic assumption.
  • Their tenures: use a recent statement, quote or realistic assumption.

Try three scenarios

Run a likely case, a conservative case and a better case. Change one input at a time so you can see which assumption matters most.

How to use this estimate in a real decision

Write down the values you entered and the date you checked them. Compare options using the same assumptions, then include any fee, tax, penalty or provider rule that sits outside the calculator. A mathematically precise answer can still be incomplete when the inputs are old or optimistic.

Treat the result as a planning range, not a quote, approval or guaranteed outcome. Recalculate whenever your rate, price, income, goal date or business cost changes.

Frequently asked questions

Enter the same loan amount for both offers with each bank's rate and tenure. Compare monthly EMI, total interest and total repayment side by side. The cheaper EMI is not always the cheaper loan if tenures differ.
Look at processing fees, legal charges, prepayment penalties and whether the rate is fixed or floating. A slightly higher rate with zero prepayment fee can work out better if you plan to close early.
Yes. Put each tenure in loan A and loan B with the same principal. You will see how much extra interest you pay for the comfort of a lower EMI on the longer loan.
Yes. Flat-rate personal or vehicle schemes are not directly comparable to reducing balance home loans. Ask each lender to confirm the method before you compare numbers here.
This tool compares two generic loan structures. For switching an existing loan to a new lender, also factor transfer fees and lost tax benefits on the old loan.
You can run the numbers, but remember unsecured personal loans carry higher rates and shorter tenures. Use the comparison to understand cost difference, not to pick product type.
No. These are illustrative figures for your own analysis. Final terms appear only in the lender's sanction letter. This is not financial advice.
Yes. No login, no subscription. Plug in two scenarios and see the difference immediately.