How is EMI calculated?

EMI is calculated using the formula: E = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12 and 100), and n is the number of monthly installments.

Which lender has the lowest EMI?

The lender with the lowest interest rate will always offer the lowest EMI for the same loan amount and tenure. The tool highlights the lowest EMI lender with a green indicator in the comparison results.

Does processing fee affect total loan cost?

Yes. The tool factors in processing fees when calculating the total payment and net savings. A lender with a slightly higher interest rate but lower processing fee may still be the best deal overall.

What is an amortization schedule?

An amortization schedule shows how each EMI payment is split between principal and interest over the loan tenure. It also shows your outstanding balance after each payment, helping you understand how quickly you are paying down the loan.

Can I use this for home loans?

Yes. The tool supports Personal Loan, Home Loan, Car Loan, Education Loan, and Business Loan. Select your loan type from the dropdown to see lenders that specialize in that product.

How many lenders can I compare?

You can compare 2 to 4 lenders at a time. This allows you to quickly evaluate the most relevant options without being overwhelmed by too many choices.

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Loan Details

Loan Amount (₹)

₹50,000₹5 Cr

Loan Type

Tenure

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