Loan Comparison Calculator — Compare EMI, Interest & Total Cost of 3 Loan Offers
Compare up to 3 loans simultaneously. See EMI, total interest, savings and amortization schedule. Perfect for comparing SBI, HDFC, ICICI, Axis and other Indian bank offers.
❓ Frequently Asked Questions
How do I compare home loan interest rates?
Enter the loan amount and tenure, then input the interest rate offered by each bank in separate loan slots. The calculator instantly shows EMI, total interest, and total payment so you can pick the best deal.
Does lower EMI always mean a better loan?
Not necessarily. A longer tenure gives lower EMI but significantly higher total interest paid. Always compare Total Payment (EMI × months + fees) to find the true cost. This calculator shows both.
What is the EMI formula?
EMI = P × r × (1+r)^n / ((1+r)^n − 1). Where P = Principal, r = Monthly interest rate (Annual Rate ÷ 1200), n = Tenure in months.
Can I compare different loan amounts and tenures?
Yes! Each loan slot has independent fields for amount, rate, tenure, and processing fees. You can compare entirely different loan scenarios side by side.
📚 About This Loan Comparison Tool
This free loan comparison calculator lets you compare up to 3 loan offers simultaneously — whether from SBI, HDFC, ICICI, Axis Bank, or any other lender. Unlike most bank EMI calculators that only show a single loan, this tool gives you a complete side-by-side view including EMI, total interest, total cost, and potential savings.
The tool also includes a full year-by-year amortization schedule , showing exactly how much of each year's payments go toward principal vs interest. This is especially useful for home loans of 15–20+ years where most early payments are primarily interest.
Processing fees are factored into the total cost comparison, so you get the true total cost of each loan — not just the headline interest rate.