How does the loan comparison calculator work?

Enter the principal, rate, and tenure for each lender side-by-side. The calculator returns the EMI, total interest, total cost, and the difference vs the cheapest option, so you can pick the lender with the lowest lifetime cost — not just the lowest headline rate.

Why do two banks with the same headline rate quote different EMIs?

Three usual reasons: (1) processing-fee inclusion in the EMI by some lenders, (2) different day-count conventions (365 vs 360), and (3) reset-frequency differences (monthly vs quarterly). The calculator surfaces total cost so these subtle differences are visible.

Should I always pick the lender with the lowest interest rate?

Not always. A 25 bps lower rate can be wiped out by a 1% processing fee, foreclosure clauses, or insurance bundling. Compare on total cost (EMI × tenure) plus one-time fees — that is the apples-to-apples number the calculator highlights.

Can I compare home loan, business loan and LAP in the same view?

Yes — the calculator is product-agnostic. Just plug in the rate, tenure, and principal for each option. We recommend comparing the same product across lenders first, then the trade-off between products separately, since tenure ceilings differ (home up to 30 years, LAP 15, business 7).

How accurate are the savings vs the lowest option?

We compute exact EMI using the reducing-balance formula (RBI standard) and exact total interest = (EMI × n) − P. Savings against the cheapest option are mathematically precise, ignoring only timing differences in fee payment which usually round to ±0.1%.

Does the comparison include processing fees?

Add the processing fee in the dedicated input field for each lender. The calculator includes it in the total cost so you see the true cost-to-borrow, not just the rate-driven cost. Insurance bundling and stamp duty are not auto-included — add them manually for the most accurate number.

Folio 11 · Loan Comparison Calculator

Loan Comparison Calculator

Reviewed by Jay Patel· Last reviewed: 25 Apr 2026stale

Jay Patel

Co-Founder & Chief Loan Advisor

Compare two loan offers to find the better deal.

What makes this calculator different

Compares two loan offers on EMI + total interest + processing fee + total cost — so a 25 bps lower rate doesn't fool you when the new lender's processing fee is 1% higher.

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