Compare two loans side by side. Enter the details of Loan A and Loan B to instantly see which one costs less — total interest, EMI and total repayment compared.
Enter the loan amount, interest rate and tenure for both loans. Click Compare to instantly see which loan costs less. Even a 0.5% difference in interest rate can save you lakhs over a 20-year home loan.
1. Maintain a CIBIL score above 750 — higher score = lower rate.
2. Compare rates from at least 3–4 banks before choosing.
3. Check if your existing bank offers loyalty discounts.
4. Government schemes like PMAY offer subsidized home loan rates for first-time buyers.
Comparing loans by interest rate alone is misleading. The true cost of a loan includes: processing fee (0.5-2% of loan), prepayment charges (0-4%), insurance premium (often bundled), and GST on fees. Our loan comparison calculator shows the total cost of each loan including EMI, total interest paid, and all charges so you can make an informed decision. Even a 0.5% difference in interest rate on a ₹30L home loan over 20 years means ₹1.5-2 lakh difference in total payment.
Home loan (8.35-9%): Secured against property, 20-30 year tenure, tax benefits under Section 24b and 80C. Personal loan (11-20%): Unsecured, 1-5 year tenure, no tax benefit, fastest approval. Car loan (9-10%): Secured against vehicle, 5-7 year tenure, no tax benefit. Always prefer secured loans — the interest rate difference of 6-10% on personal vs home loan means you pay 2-3× more for personal loan.
Prepaying a home loan in the early years saves significantly more than late prepayment. On a ₹30L loan at 8.35% for 20 years, prepaying ₹3L after Year 1 saves ₹5.8L in interest and 2.5 years of tenure. Same prepayment after Year 15 saves only ₹30,000. This is because early EMIs are mostly interest — later EMIs are mostly principal. Use our loan comparison to see prepayment impact.