Loan Comparison Calculator

Work out loan comparison instantly with clear inputs, formula shown and shareable results.

About Loan Comparison Calculator

Two offers on the same amount and tenure differ only through the rate, but the effect compounds over hundreds of instalments. Comparing total interest rather than the monthly figure shows the real size of a rate gap.

Formula

Comparison

Interest_A - Interest_B = (EMI_A - EMI_B) × n

n: Months

Worked example

With the default values below, Loan Comparison Calculator returns Interest Difference Over The Tenure of $214,381.71. Change any input above and every figure here is recalculated in your browser.

Inputs used

Loan Amountminimum 0: 2,000,000
Lender A Rateaccepts 0–100 %: 8.4 %
Lender B Rateaccepts 0–100 %: 9.1 %
Tenure In Yearsaccepts 1–40: 20

Results

Interest Difference Over The Tenure: $214,381.71
Lender A EMI: $17,230.09
Lender B EMI: $18,123.35
Cheaper Option: Lender A is cheaper overall

Step by step

1Values used
2Comparison
3Interest Difference Over The Tenure= 214,381.71
4Lender A EMI= 17,230.09
5Lender B EMI= 18,123.35
6Cheaper Option= Lender A is cheaper overall

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.

Frequently Asked Questions

Is the lowest rate always the best offer?

Not always. Processing fees, insurance bundling and prepayment terms can outweigh a small rate advantage.

How much is a 0.5% rate difference worth?

On a 20-year home loan it is typically 5-6% of the amount borrowed in extra interest.