Loan Comparison
Compare two loan offers side by side — see which one costs you less in total.
₹50,00,000
₹1,00,000₹5Cr
Loan A
8.5%
5%15%
20 years
1yr30yr
₹10,000
₹0₹1L
EMI₹43,391
Total Interest₹54,13,840
Processing Fee₹10,000
Total Cost₹1,04,23,840
Loan B
9%
5%15%
20 years
1yr30yr
₹5,000
₹0₹1L
EMI₹44,986
Total Interest₹57,96,640
Processing Fee₹5,000
Total Cost₹1,08,01,640
Loan A saves you ₹3,77,800 in total cost
What to Compare Beyond EMI
- Total cost — a lower EMI with longer tenure can cost more overall
- Processing fees — can range from ₹5,000 to ₹50,000+
- Prepayment charges — some banks charge 2-4% for early repayment
- Rate type — fixed vs floating rate affects long-term cost
FAQ: Should I choose shorter or longer tenure?
Shorter tenure means higher EMI but significantly less total interest. A 15-year loan at 8.5% costs about 40% less in interest than a 30-year loan at the same rate. Choose the shortest tenure where the EMI is comfortable — ideally under 40% of your monthly income.