How to use this page
- Tap “Add a loan” and enter the amount, rate and tenure from the bank’s offer.
- Or press “Save to compare loans” on any loan calculator.
- Drag two loans into Loan A and Loan B — on a phone, tap A or B on a loan.
Frequently asked questions
How do I compare two loans?
Look at the total cost — interest plus processing fee and GST — and the true yearly cost, not only the EMI. In the example, 12.5% for 36 months costs ₹1,13,965 in all; 11.75% for 48 months costs ₹1,46,770, even though its EMI is lower.
Why is a lower EMI not always cheaper?
A lower EMI often comes from a longer tenure, so you pay interest for more months. A lower rate with a high processing fee can also cost more than it looks.
What is the true yearly cost?
The rate you really pay once the fee and GST are counted. For the example loans it is 14.17% and 13.69%, against quoted rates of 12.5% and 11.75%. Banks show it as the APR (annual percentage rate) in the Key Facts Statement.
Where are my loans saved?
Only in this browser, on this device. Nothing is sent to us. Use “Copy link” or WhatsApp to share the two loans you are comparing.