Compare multiple loan offers side-by-side with real-time EMI, interest cost, and total repayment analysis. Make informed borrowing decisions with our professional financial tool.
Fill in the loan details on the left side to see a detailed comparison of monthly payments, total interest costs, and overall loan affordability.
Our Bank Loan Comparison Calculator uses advanced financial algorithms to provide accurate comparisons between multiple loan offers. The tool evaluates loans based on several key metrics to help you identify the most cost-effective option for your financial situation.
The core of loan comparison is the Equated Monthly Installment (EMI) formula, which calculates your fixed monthly payment based on the loan amount, interest rate, and tenure:
Where:
To determine the complete financial impact of each loan option, we calculate:
Let's examine a practical scenario where you need a $20,000 personal loan and have three different offers from various lenders in 2026:
| Lender | Loan Amount | Interest Rate (2026) | Term | Monthly EMI | Total Interest | Total Cost |
|---|---|---|---|---|---|---|
| Digital Bank A | $20,000 | 9.5% | 3 years | $641 | $3,076 | $23,076 |
| Credit Union B | $20,000 | 10.2% | 4 years | $511 | $4,528 | $24,528 |
| Traditional Bank C | $20,000 | 8.9% | 3 years | $635 | $2,860 | $22,860 |
Analysis: While Credit Union B offers the lowest monthly payment ($511), you'll pay $1,452 more in interest compared to Traditional Bank C. Digital Bank A falls in the middle. The best option financially is Traditional Bank C with the lowest total cost of $22,860, saving you $1,668 compared to the longest-term option.
Compare 15-year vs. 30-year mortgages with different interest rates and points to find optimal home financing in 2026's housing market.
Evaluate dealer financing vs. bank loans for electric vehicle purchases, considering manufacturer incentives and green energy rebates.
Compare personal loans to consolidate high-interest credit card debt, calculating potential interest savings and improved cash flow.
When comparing loans in 2026, consider these essential factors beyond just the interest rate:
Combine our Bank Loan Comparison Calculator with these specialized tools for comprehensive financial planning:
Calculate exact monthly installments for any loan with detailed principal and interest breakdown.
Specialized calculator for home loans with property tax, insurance, and PMI calculations.
Calculate personal loan EMIs and compare offers from different financial institutions.
Calculate car loan payments with down payment, trade-in value, and dealer incentives.
Analyze if consolidating multiple debts into a single loan saves you money.
Calculate potential interest savings by making extra payments toward your loan principal.
See how different loans and credit behaviors affect your credit score over time.
Calculate your DTI ratio to determine loan eligibility and borrowing capacity.
Generate a detailed payment schedule showing principal vs. interest for each payment.
Calculate commercial loan payments with business-specific terms and conditions.
This Bank Loan Comparison Calculator provides estimates based on the information you enter. The results are for educational and planning purposes only. Actual loan terms, interest rates, and fees may vary based on your creditworthiness, lender policies, and market conditions in 2026. Always consult with a qualified financial advisor or lending institution before making any borrowing decisions. Loan approvals are subject to lender verification and underwriting processes.