Loan Comparison Calculator
Compare 3 bank loan offers side-by-side — find the cheapest deal
Got multiple loan offers? Enter each bank's terms below and instantly see which one costs you the least in total interest. A 0.25% rate difference on a ₹50L loan can mean ₹3-5 lakh in extra interest.
Why Small Rate Differences Matter
Banks compete on basis points (0.01%). It seems trivial, but on a 20-year home loan, these differences compound massively:
- ₹50L at 8.50% for 20 years: Total interest = ₹54.1 lakh
- ₹50L at 8.75% for 20 years: Total interest = ₹56.3 lakh
- ₹50L at 9.00% for 20 years: Total interest = ₹58.5 lakh
- Difference between 8.5% and 9%: ₹4.4 lakh — just for a 0.5% rate change
Tips for Getting the Best Rate
- Compare at least 3 banks — use this tool to see the actual difference
- Check processing fees — a lower rate with ₹30K processing fee vs higher rate with zero fee may net out differently
- Negotiate — show Bank B's offer to Bank A and ask them to match
- Consider tenure trade-offs — a shorter tenure at a slightly higher rate may cost less total interest
- Check for rate resets — floating rate loans reset periodically; ask about the base rate methodology (MCLR vs EBLR)