Loan Comparison Calculator

When applying for loans, it's crucial to compare offers from multiple lenders to find the most cost-effective option. Our calculator helps you compare up to 3 loan offers side by side.

The calculator considers not just the interest rate, but also processing fees and other charges to give you the true cost of each loan option.

Comparison Factors:

• Interest Rate: Annual percentage rate charged by lender
• Processing Fee: One-time fee charged for loan processing
• Monthly EMI: Equated monthly installment amount
• Total Interest: Total interest paid over loan tenure
• Total Cost: Complete cost including all fees

Loan Comparison Tips:

• APR Comparison: Look at the Annual Percentage Rate (APR)
• Hidden Charges: Check for prepayment penalties and other fees
• Flexibility: Consider prepayment options and tenure flexibility
• Customer Service: Evaluate lender's service quality
• Processing Time: Consider loan approval and disbursal time

Types of Loan Fees:

• Processing Fee: 0.5% to 3% of loan amount
• Documentation Charges: Fixed amount for paperwork
• Prepayment Penalty: Charge for early loan closure
• Late Payment Fee: Penalty for missed EMI payments
• Bounce Charges: Fee for failed EMI auto-debit

Factors Beyond Cost:

• Approval Speed: How quickly loan is approved
• Documentation: Ease of documentation process
• Customer Support: Quality of customer service
• Digital Experience: Online account management
• Reputation: Lender's market reputation

Features:

• Compare up to 3 loan offers simultaneously
• Include processing fees in total cost calculation
• Visual comparison charts
• Best loan option recommendation
• Detailed cost breakdown analysis