Compare loan offers

By Anchal Katyal · Written on Jun 30, 2026 · Verified on Sep 27, 2026

Line up two offers on EMI, fees, and total outflow so a low instalment does not hide a costlier package. Keep amount and years equal.

What you'll learn:

Fixed and floating offers side by side
Offers that net fees from disbursal
How to read a close result

Compare Offers

Currency

Outflow gap-

Offer A EMI-

Offer B EMI-

A paid in 5 years-

B paid in 5 years-

Offer A total outflow-Still owed after 5 years: -

Offer B total outflow-Still owed after 5 years: -

EMI difference-

Enter both offers to compare.

What this tool shows

This compare loan offers calculator lines up two quotes on the same screen: monthly EMI, total interest, processing fee, and total outflow. It catches the common mistake of picking the lowest EMI or the lowest advertised rate without adding fees.

Use it for home loan EMI, car EMI, personal loan EMI, or education EMI quotes. Keep principals equal when you can. If one lender finances fees into the loan, raise that principal so you are not comparing unequal debt.

The cheaper side here is only a planning result, not a sanction. Lenders still apply credit checks, product caps, and floating resets outside these inputs. After you pick a winner, re-check the numbers on the matching EMI calculator.

How to use this tool

Enter principal, reducing-balance rate, tenure in months, and processing fee % for Offer A from the actual quote (not a teaser banner).
Enter the same fields for Offer B. Keep product type like-for-like when possible (home vs home, car vs car, personal vs personal).
Read EMI, total interest, processing fee, and total outflow for each side.
Prefer the lower total outflow unless the monthly payment is your main concern, then re-check tenure and FOIR on the loan eligibility calculator.
If the offers are close, change one input at a time (rate, fee, or tenure) so you can see which lever actually decides the winner.

Why total outflow beats headline EMI

Processing fees can erase a small rate advantage, especially on short personal or car loans, where the fee is a bigger share of the total cost.

Different tenures make EMI comparisons misleading. A longer term can look cheaper each month while costing much more overall.

Floating home loans need a second pass: after you pick a winner here, stress the rate +0.5% to +1% on the home loan EMI calculator so the installment still fits if the benchmark resets.

If one offer includes a cashback, fee waiver, or first-year teaser rate, model the steady rate after the teaser ends. A short discount rarely beats a lower lasting rate once you look at full tenure outflow.

Prepayment rules and foreclosure charges are not inside this grid. If you expect to close the loan early, a slightly higher rate with freer prepayment can still be the better contract.

Bank vs bank comparisons

Each page opens this calculator with both lenders' rates and fees filled in, then adds the EMI gap at four loan amounts, the October 2026 repo hike, complaints and borrower reports.

SBI vs HDFC home loan: typical 7.75% against 8.5%
HDFC vs ICICI home loan: typical 8.5% against 9%
SBI vs LIC Housing Finance home loan: typical 7.75% against 7.6%
SBI vs ICICI home loan: typical 7.75% against 9%
SBI vs Bank of Baroda home loan: typical 7.75% against 8%
SBI vs PNB home loan: typical 7.75% against 7.75%
HDFC vs LIC Housing Finance home loan: typical 8.5% against 7.6%
SBI vs Axis home loan: typical 7.75% against 8.5%
HDFC vs Axis home loan: typical 8.5% against 8.5%
SBI vs Canara Bank home loan: typical 7.75% against 7.7%
ICICI vs Axis home loan: typical 9% against 8.5%
SBI vs HDFC personal loan: typical 11.5% against 12%
HDFC vs ICICI personal loan: typical 12% against 12%
SBI vs HDFC car loan: typical 8.75% against 9.25%

Decision tips

Choose the offer whose EMI you can pay and whose total cost (including fees) is lower.

Compare reducing-balance rates, not dealer flat rates.
Fold any tax on fees into the processing fee % you enter.
If tenures differ, total outflow matters more than EMI alone.
After you pick a winner, stress floating rates on the home loan EMI calculator.
Add stamp duty, insurance, or legal fees outside this tool when they differ by lender.
Keep both offers on the same principal unless one lender finances fees into the loan; then raise that side so you compare equal debt.
Save or screenshot both quotes with the same date so you are not mixing an old teaser with a fresh sanction.

How to read a close result

When Offer A and Offer B are close on total outflow, do not treat the winner badge as final. Check which side has the lower EMI if cash flow is tight, and which side stays cheaper if rates rise by one percentage point.

A lower processing fee with a higher rate often wins on short personal or car loans. On long home loans, a slightly higher fee with a lower lasting rate often wins. Re-run at the tenure you can actually keep.

If one lender nets the fee from disbursal, raise that principal so EMI and interest reflect the debt you will owe. If one quote is floating and the other is fixed for a few years, stress the floating side before you sign.

If the totals are close, read the compare and floating-rate guides before you choose.

For each quote, write three numbers: monthly EMI, total cost if you stay full tenure, and total cost if you exit in five years. The rank order often changes across those three.

Dealer-subvented car loans and corporate home-loan tie-ups sometimes hide the true customer rate behind a temporary buydown. Enter the rate that applies after the subsidy window, or you will pick a teaser rate that ends in year two.

When both EMIs fit your FOIR with room to spare, prefer the lower total outflow even if its EMI is a few hundred rupees higher.

If you are choosing between banks for the same home purchase, also line up sanction timelines, valuation fees, and whether the rate is repo-linked with a known spread. This tool is bank-agnostic: paste SBI, HDFC, ICICI, or any other quote the same way.

After you pick a winner, paste the same principal, rate, and tenure into the matching EMI calculator and try a realistic lump-sum prepayment in year one or two.

Last updated on Aug 14, 2026.

FAQs

Should I always pick the lower EMI?

No. A longer tenure can lower EMI while raising total interest substantially. Use total outflow unless monthly cash flow is the hard constraint, then shorten tenure later if income allows.

Do you include insurance or stamp duty?

No. Add those outside the tool. This comparison focuses on EMI interest and processing fee so the core finance package stays comparable.

Can I compare a car loan to a personal loan?

Yes mathematically, but product rules differ (security, foreclosure, tax treatment). Prefer like-for-like products when the decision is which lender to choose for the same need.

What if one offer nets fees from disbursal?

Raise that offer's principal to the amount you will actually owe, or lower the cash you expect to receive, so EMI and interest reflect the true debt.

How many offers should I compare at once?

Two or three serious written quotes are usually enough. More than that adds noise unless principal, tenure, and fee treatment stay identical across every row.

Should floating and fixed offers sit in the same table?

Yes for a first pass, but stress the floating offer at +1% and +2% on the home loan EMI calculator. A fixed EMI can look higher today and still win if you value payment certainty.