Use this free online loan comparison calculator to compare two loan offers side by side — EMI, total interest, and total payment — and instantly see which one costs you less overall.
Loan A
Loan B
How to Use the Loan Comparison Calculator
Enter the loan amount, annual interest rate, and tenure for "Loan A".
Enter the same details for "Loan B".
Click "Compare Loans" to see the EMI, total interest, and total payment for each, plus which one costs less overall.
Frequently Asked Questions
Each EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the tenure in months.
A lower EMI can still cost more overall if it comes with a longer tenure, since you pay interest for more months. Comparing the total payment (and total interest) gives the true cost of each loan.
Yes, it's completely free and requires no sign-up.