EMI comparison calculator
Compare two loan options side by side and see which one actually costs less.
Loan 1
Loan 2
How the comparison works
Each loan is run through the same standard EMI formula, then placed side by side so the difference is easy to see.
Enter the amount, rate and tenure for each loan you're weighing up. The tool calculates the EMI, total interest and total payment for both, and lines them up in one table.
A lower EMI doesn't always mean a cheaper loan — a longer tenure can lower the monthly payment while raising the total interest paid overall, which is exactly what this comparison is built to surface.
Why it's worth comparing first
A lower interest rate with a longer tenure can still cost more in total than a higher rate over a shorter one.
Total interest and total payment often tell a very different story than the monthly EMI alone.
Put two offers through the exact same formula, so the comparison isn't skewed by how each lender presents it.
Decide whether a shorter, pricier-per-month loan actually saves you money in the long run.
What to check beyond the EMI
The lowest monthly payment isn't always the best deal — a few other numbers matter just as much.
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Total interest paidThe single clearest way to see which loan actually costs more over its full term.
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Processing fees and chargesA lower rate can be offset by higher upfront or annual fees — factor those in separately.
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Prepayment and foreclosure termsIf you might pay off the loan early, check whether either lender charges a penalty for that.
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Fixed vs floating rateA floating rate can change over the loan's life, which this comparison doesn't account for — treat the numbers as a snapshot at today's rate.
This tool compares the numbers you enter — it isn't financial advice, and it's worth confirming fees, rate type and prepayment terms directly with each lender before deciding.