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Put up to three offers side by side. Ranks them on the total cost of borrowing, interest plus processing fee, rather than on the headline rate.
Move a slider or type a number. Everything updates instantly, and the link above carries your values so you can share or save them.
Ten lakh
Cheapest overall
Offer A
10.5% · 5 yr · 0.5% fee
Total cost of borrowing ₹2,94,634
| Offer | EMI | Interest | Fee | Total cost |
|---|---|---|---|---|
| Offer ABest10.5% · 5 yr | ₹21,494 | ₹2,89,634 | ₹5,000 | ₹2,94,634 |
| Offer B9.99% · 5 yr | ₹21,242 | ₹2,74,527 | ₹25,000 | ₹2,99,527 |
| Offer C11.25% · 5 yr | ₹21,867 | ₹3,12,038 | ₹0 | ₹3,12,038 |
Interest plus the processing fee. Shorter is better.
Offer B has the lowest interest rate at 9.99%, but its 2.5% processing fee makes it ₹4,893 more expensive overall than Offer A. This is exactly the trap the headline rate is designed to set.
Compare the total cost of borrowing, not the rate and not the EMI. A lower EMI on a longer tenure always costs more overall. Also ask each lender about the foreclosure charge, and whether any insurance is being bundled into the loan amount.
Total cost = total interest + processing fee. The lowest total cost wins.
Nothing is hidden. The same formula runs in a shared, unit-tested library used by every calculator on this site.
These numbers are indicative. Your actual offer depends on the lender.
This calculator assumes the rate stays the same for the whole tenure. Most loans in India are floating rate, so your EMI can move when the RBI changes rates. Tell us your real situation and we will give you a figure you can plan around.
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