# Loan Comparison Calculator: Two Offers, APR and Total Cost > Loan comparison calculator: put two loan offers side by side with rates, tenures and fees, and see EMIs, total cost and the true APR of each offer. Source: https://trykosh.com/tools/loan-comparison-calculator Free tool - Loans and credit cards # Loan comparison calculator A lower rate with a big fee can cost more than a higher rate with none. Compare two offers on what you actually pay. Rules checked 25 October 2026Free - no sign-upRuns in your browser Offer A is cheaper by INR 4,893 APR 10.94% vs 11.31%, fees included APR, offer A**10.94%** APR, offer B**11.31%** EMI gap**INR 252** Two offers on INR 10 lakh Offer A Offer B Interest rate 10.5% 9.99% Tenure 5 years 5 years EMI INR 21,494 INR 21,242 Total interest INR 2,89,634 INR 2,74,527 Fees and charges INR 10,000 INR 30,000 Total cost (interest + fees) INR 2,99,634 INR 3,04,527 APR (true yearly cost) 10.94% 11.31% APR spreads the fees over the loan, so a low rate with a big fee can cost more than a slightly higher rate with no fee. ## Upload your statement and Kosh does this for you. Upload a bank or card statement and Kosh finds every EMI and card charge, then builds the fastest way out of debt that still fits your month. [Start free](/signup?via=tool-loan-comparison-calculator) ## How the loan comparison calculator works Enter the loan amount and, for each offer, the interest rate, tenure and all upfront charges including GST: processing fee, documentation, and any insurance you are required to buy. The calculator works out each EMI and the total interest over the tenure. Total cost is interest plus fees. When both offers have the same tenure, the one with the lower total cost is cheaper, and the result says by how much. When tenures differ, rupee totals mislead: a longer loan always shows more interest even if its rate is lower. So the calculator also works out the APR for each offer, the yearly rate at which the cash you receive (loan minus fees) equals the EMIs you pay. APR is the fair way to compare loans of different lengths. This is the same method RBI requires lenders to use in the Key Fact Statement: the APR there is the annualised effective cost including fees. Check that the lender's APR matches yours; if it doesn't, ask what charges you've missed. APR = 12 x r, where (loan − fees) = Σ EMI / (1 + r)ᵗ for t = 1 ... n r monthly internal rate of return Total cost EMI x n − loan + fees ## Worked example: Deepa weighs two personal loan offers Deepa needs INR 5 lakh for 3 years. Offer A is 11.25% with a INR 2,950 fee; offer B is 10.75% with a INR 14,750 fee, both including GST. B's EMI is INR 118 lower, but its higher fee wipes that out: offer A is cheaper by INR 7,538 in total, and its APR is 11.66% against 12.83% for B. Offer A is cheaper by INR 7,538 APR 11.66% vs 12.83%, fees included APR, offer A**11.66%** APR, offer B**12.83%** EMI gap**INR 118** APR spreads the fees over the loan, so a low rate with a big fee can cost more than a slightly higher rate with no fee. [Load this example into the calculator ->](?amount=500000&rateA=11.25&yearsA=3&feeA=2950&rateB=10.75&yearsB=3&feeB=14750#calculator) ## Good to know - Include every compulsory charge in the fee: processing, documentation, stamp duty, and any credit-life insurance the lender insists on. - Compare foreclosure terms too. A loan you can prepay free is worth more if you expect a bonus or windfall. - For floating-rate loans, compare the spread over the benchmark. Two loans at the same rate today can diverge later. - Fees matter more on small and short loans. On a long home loan, the rate dominates. ## Frequently asked questions How do I compare two loan offers? Look at the APR, which combines the rate and the fees into one yearly cost. If tenures are equal, also compare total cost (interest plus fees). The calculator above does both for two offers. What is APR on a loan? APR is the annual percentage rate: the true yearly cost of a loan including processing fees and other charges. RBI requires lenders to show it in the Key Fact Statement for retail and MSME loans. Is a lower EMI always the cheaper loan? No. A lower EMI can come from a longer tenure or be offset by a large upfront fee. Compare total cost for equal tenures and APR for different tenures. Should I include insurance in the loan cost? If the lender requires it as a condition of the loan, yes, because it is part of what you pay to borrow. Optional cover you would buy anyway can be left out. ## Sources and assumptions - [Reserve Bank of India](https://www.rbi.org.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.