Two to four loan offers side by side: EMI, total interest, fees and the total cost, with the difference from the first offer.
Comparing like with like
Enter two to four offers. Each is worked out with its own method, and the table shows the EMI, total interest, the fees you entered, total repayment and the cost of borrowing (interest + fees), with the difference from the first offer.
Cost of borrowing = total interest + fees entered
Flat and reducing rates
A flat-rate offer is never compared rate to rate with a reducing-balance offer. For flat-rate offers the table adds the reducing-balance rate with the same cost, and the cost of borrowing compares every offer on the same basis.
What the comparison leaves out
- Insurance, taxes, stamp duty and late-payment charges unless you include them in the fees.
- Changes in floating rates over the loan.
- Prepayment terms, which can matter as much as the rate.
Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.