Personal Loan Comparison Calculator

Personal loans vary significantly across lenders in terms of interest rates, processing fees, and eligibility criteria. Our comparison calculator helps you evaluate multiple offers and choose the best option based on your income and requirements.

The calculator includes eligibility assessment based on minimum income requirements and EMI-to-income ratio to ensure you qualify for the loans you're comparing.

Comparison Factors:

• Interest Rate: Annual percentage rate charged
• Processing Fee: One-time charges for loan processing
• EMI Amount: Monthly installment amount
• Total Cost: Complete cost including all fees
• Eligibility: Income and EMI ratio requirements

Eligibility Criteria:

• Minimum Income: Varies by lender (₹15,000-₹30,000)
• EMI Ratio: Total EMIs should not exceed 50% of income
• Credit Score: Minimum 650-750 depending on lender
• Employment: Salaried or self-employed with stable income

Lender Types:

• Public Sector Banks: Lower rates, stricter eligibility
• Private Banks: Competitive rates, faster processing
• NBFCs: Higher rates, flexible eligibility
• Fintech Lenders: Quick approval, digital process

Tips for Best Rates:

• Credit Score: Maintain score above 750
• Existing Relationship: Banks offer better rates to customers
• Income Level: Higher income gets preferential rates
• Employment Type: Salaried employees get better rates
• Loan Amount: Larger amounts may get better rates

Features:

• Compare up to 3 personal loan offers
• Automatic eligibility assessment
• Include processing fees in total cost
• Visual cost comparison charts
• Best loan recommendation