Loan Comparison Calculator - Compare Offers Loan Comparison
Compare two loan offers side by side — EMI, total interest, and total cost — to pick the best deal.
Loan A
%
yrs
Loan B
%
yrs
Comparison Results
Loan A — EMI -
Loan A — Total Interest -
Loan A — Total Cost -
Loan B — EMI -
Loan B — Total Interest -
Loan B — Total Cost -
Interest Savings (Best) -
Better Offer -
Year-by-Year Breakdown — Loan A
| Year | Opening Balance | Annual Payment | Principal Paid | Interest Paid | Closing Balance |
|---|
Year-by-Year Breakdown — Loan B
| Year | Opening Balance | Annual Payment | Principal Paid | Interest Paid | Closing Balance |
|---|
What is a Loan Comparison Calculator?
A loan comparison calculator lets you evaluate two or more loan offers side by side. By comparing EMI, total interest, and total cost, you can objectively choose the most affordable option.
Why Compare Loans?
- Save on Interest: Even a small rate difference compounds into significant savings over the loan tenure.
- Understand Trade-offs: A longer term lowers EMI but increases total interest. This calculator shows both clearly.
- Objective Decision: Numbers don't lie — compare total cost rather than relying on marketing claims.
How It Works
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
Where P = loan amount, r = monthly rate, n = total months.
Total Interest = (EMI × n) − P
Total Cost = EMI × n
How to Use
- Enter the loan amount, interest rate, and term for Loan A.
- Enter the same details for Loan B.
- Click "Compare Loans" to see which offer costs less.
- Review the year-by-year breakdown tables for detailed amortisation.
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