What is the Loan Comparison Calculator?
Banks advertise loans differently – one has a lower rate, another a longer tenure or lower processing fee. Enter up to three offers and see the monthly instalment, total interest, total cost including fees and the effective cost for each, with the cheapest option highlighted.
How to use the Loan Comparison Calculator
- Enter the loan amount.
- Fill in each offer’s interest rate, tenure and one-time fees.
- Compare monthly EMI and total cost.
What to compare
- Total cost (interest + fees) is more important than the monthly payment.
- A longer tenure lowers the EMI but usually increases total interest.
- Check early settlement charges before choosing.
This Loan Comparison Calculator is 100% free, needs no signup and runs privately in your browser – on phone, tablet or computer.
Last updated: · By NodifyTech