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Loan Comparison Calculator
Compare two loan offers side-by-side before signing.
Enter values to see your result
Frequently asked questions
What should I compare beyond interest rate?
Compare (1) processing fees, (2) tenure, (3) prepayment penalty, (4) legal/stamp duty, (5) disbursement timeline. A 0.25% lower rate can be wiped out by high processing fees.
What is the difference between flat and reducing-balance rates?
A flat rate charges interest on full principal throughout. Reducing balance (what this calculator uses) charges only on outstanding balance. A 10% flat rate ≈ 18–19% reducing balance.
Is a shorter tenure always better?
Shorter tenure saves interest, but pushes EMI higher. If higher EMI strains your monthly budget, a longer tenure with planned prepayments is a safer approach.
Are there hidden charges?
Watch for administrative fees, insurance bundling, documentation charges, and legal fees. Ask for the full "cost sheet" in writing before signing.