Loan Comparison Calculator
Two lenders, two rates — one clear winner.
Compare two loans side by side — EMI, total interest, effective cost and loan health — all computed by the same shared engine used across every EMI360 calculator.
Loan A
Loan B
Comparison snapshot
LiveVerdict
Loan B wins.
Loan B saves ₹2.64 L in interest.
Interest saved: ₹2,63,619 · EMI difference ₹1,098
Monthly EMI
₹30,374
₹29,275
Total interest
₹37,89,715
₹35,26,097
Total repayment
₹72,89,715
₹70,26,097
Closing date
Jul 2046
Jul 2046
Effective cost
Total repayment ÷ loan amount
208.3%
200.7%
Total interest ratio
Interest ÷ principal
108.3%
100.7%
Loan health
62/100 · Fair
65/100 · Good
EMI & Interest
Side-by-side comparison
Outstanding balance
Balance over time
Both scenarios are computed by the same shared EMI engine used across every EMI360 calculator. Processing fees, foreclosure charges and insurance are not included — factor them in before you switch lenders.
Understand every number
Why compare loans at all?
Even a 0.25% rate difference on a ₹50 L / 20-year home loan is worth roughly ₹1.5–2 L in interest. Tenure differences matter even more. Comparing before you sign is the single highest-return financial exercise most borrowers ever do.
Rate isn't everything
A lower rate at a higher processing fee, or a shorter tenure at a higher EMI, can beat or lose to a headline-cheap offer. Compare total repayment and effective cost — not just the advertised rate.
When to consider a balance transfer
Rule of thumb: switch if the new rate is at least 0.50% lower and you have 5+ years of tenure left. Below that, foreclosure fees, MODT, and legal charges usually eat the saving.
Fixed vs floating
Floating home loans in India carry zero prepayment penalty by RBI mandate; fixed rates and car / personal loans do not. Factor that into your comparison — a 'lower' fixed rate can be more expensive after switching.
Frequently asked
Enter two loan scenarios — amount, rate and tenure — and the calculator runs both through the same shared reducing-balance EMI engine that powers every other EMI360 calculator. You get side-by-side EMI, total interest, total repayment, closing date, effective cost, total interest ratio and loan health.
Yes. Each side has its own loan-type picker (Home / Car / Personal / Education) with sensible rate and tenure defaults, so a home loan at 8.5% for 20 years and a personal loan at 12% for 5 years can be compared cleanly.
Yes — that's the classic 'should I switch lender' use case. Click 'Copy A's amount & tenure to B' and just change the rate on Loan B. The interest saved tile shows exactly what a rate reset or balance transfer would gain.
Effective Cost = Total Repayment ÷ Loan Amount, expressed as a percentage. A ₹20 L loan that repays ₹36 L has an effective cost of 180%. It captures the true lifetime cost, not just the headline rate — identical to the metric used on every other EMI360 calculator page.
Total interest as a percentage of the original principal. On a 20-year home loan at 8.5%, interest is typically 110–130% of the principal — meaning you repay more in interest than you borrowed. It's a quick lifetime-cost check that never changes between the standalone calculators and this comparison view.
The exact same composite score used on Home, Car, Personal, Education and Eligibility calculators — affordability, tenure, total interest ratio, interest efficiency and prepayment plan. There is no separate health formula for the comparison page.
Yes. The Comparison Report is a single PDF with both loans side by side — verdict, snapshot table, charts, recommendations on the winning plan and the transparency section — not two separate single-loan PDFs stitched together.
Not automatically. The cheapest total interest is usually the right pick when tenure, prepayment terms and processing fees are similar. If the cheaper option comes with a 4% foreclosure penalty, restrictive prepayment rules or a high processing fee, the more expensive one can be the smarter choice.
Not on this page — the comparison focuses on the pure repayment math so the two columns stay directly comparable. Add processing fee and GST on each product's own calculator (Home / Car / Personal) to see the fully-loaded 'Effective Cost of Borrowing' with charges.
No — you should subtract foreclosure fees and MODT / legal costs from the interest saved before deciding to switch. RBI mandates zero prepayment charges only on floating-rate home loans; fixed, car and personal loans typically charge 2–5% of the outstanding principal.
Yes, but treat the floating rate as its current value. Real-world floating rates reset with the RBI repo rate, so the actual paid interest may be higher or lower than the projection. Compare fixed vs floating at 2–3 rate assumptions before deciding.
No. Everything is computed in your browser. Nothing is uploaded, stored or shared — the same privacy stance as every other EMI360 calculator.