Loan Comparison Calculator
Settle loan-vs-loan debates with EMIs, lifetime totals, and a clear cheaper-option verdict.
Compare two loan offers side by side instantly. Free loan comparison calculator with EMI, total interest and cheapest-option verdict.
Calculator Inputs
About Compare Loans
Settle loan-vs-loan debates with EMIs, lifetime totals, and a clear cheaper-option verdict.
A lower rate is not always the cheaper loan — tenure matters as much. This calculator amortizes both offers independently and compares lifetime totals, so a 9%/15-year offer can fairly face an 8.5%/20-year one.
Watch the trade-off the numbers reveal: shorter tenures usually win on total interest while demanding higher EMIs. Pick the winner you can comfortably afford, not just the cheapest total. All math runs in your browser.
Where it is used
Choosing between bank offers, weighing shorter tenure against higher EMI, and quantifying refinancing savings.
How to use the Compare Loans
- Loan A Amount — enter the value (e.g. 300000).
- Loan A Rate (%) — enter the value in % (e.g. 8.5).
- Loan A Years — enter the value (e.g. 20).
- Loan B Amount — enter the value (e.g. 300000).
- Loan B Rate (%) — enter the value in % (e.g. 9).
- Loan B Years — enter the value (e.g. 15).
- Calculate — press the Calculate button to see the result instantly above.
Formula
EMI each via standard amortization; cheaper = lower EMI × months total.
Examples
Example
Frequently Asked Questions
- Why can a higher rate still win?
- Because total cost is EMI × months. A shorter tenure at a slightly higher rate often pays less interest overall than a long cheap loan.
- Does this include fees and insurance?
- No — add processing fees, insurance, and prepayment penalties to each total manually for a complete comparison.
- Should I always pick the cheapest total?
- Only if the EMI fits your budget with margin. An unaffordable EMI that risks default is worse than a pricier comfortable one.