Loan Comparison — Compare Personal, Home, Car & Auto Loans
Compare personal, home, car & auto loans side by side — find the lowest EMI and save thousands.
How to Use Loan Comparison Calculator
Enter loan amount, interest rate, and tenure for 2–4 lenders (add any bank name)
Instantly see EMI, total interest, and total payment side by side
The best deal is highlighted automatically — see how much you save by switching lenders
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Personal Loan Comparison — Best Rates & Offers
A personal loan comparison can save you thousands of rupees over the loan term. Personal loans are unsecured (no collateral), so lenders price them based on your credit score, income stability, and employer category. Use the comparison calculator above to enter quotes from your bank, a fintech lender (e.g., MoneyTap, KreditBee), and an NBFC side by side.
| Lender Type | Interest Rate Range | Tenure | Processing Fee | Best For |
|---|---|---|---|---|
| PSU Banks (SBI, PNB) | 10.30%–14.00% | 12–84 months | 0–1% | Govt. employees, low income |
| Private Banks (HDFC, ICICI) | 10.50%–16.00% | 12–60 months | 0.5–2.5% | Salaried professionals |
| NBFCs (Bajaj, Tata Capital) | 11.00%–26.00% | 12–72 months | 1–3% | Self-employed, low credit score |
| Fintechs (KreditBee, PaySense) | 16.00%–36.00% | 3–36 months | 1–4% | Quick disbursal, smaller amounts |
Key insight: A ₹5,00,000 personal loan at 10.5% for 3 years has a total interest of ₹81,600. The same loan at 14% costs ₹1,12,800 — a ₹31,200 difference purely from the rate. Enter these numbers in the calculator above to see the exact EMI difference.
Home Loan Comparison — Housing & Mortgage Loans
Home loan comparison is the most financially impactful decision most people make — even a 0.25% difference in rate on a ₹50 lakh home loan over 20 years saves ₹1.72 lakh in interest. The calculator above handles this comparison automatically.
| Bank | Starting Rate (2025) | Max Tenure | Special Offer |
|---|---|---|---|
| SBI | 8.50% p.a. | 30 years | Lower rates for women borrowers |
| HDFC Ltd. | 8.60% p.a. | 30 years | Balance transfer facility |
| ICICI Bank | 8.75% p.a. | 30 years | Top-up loan facility |
| LIC Housing Finance | 8.50% p.a. | 30 years | No prepayment penalty |
| Bank of Baroda | 8.40% p.a. | 30 years | Digital processing in 7 days |
Fixed vs. floating rate: Fixed-rate home loans lock your EMI for 2–5 years then reset. Floating rates change with RBI repo rate movements. RBI mandates zero prepayment penalty on floating-rate home loans — this is a key advantage when comparing. For a home loan comparison rate analysis, always compare floating rates at current levels plus a 1% stress-test scenario.
Car Loan Comparison — New & Used Car Financing
Car loan comparison has a unique angle: manufacturer finance arms (Maruti Finance, Hyundai Motor Finance) compete directly with retail banks, and fintech-backed NBFCs offer near-instant approvals for used cars. The best rates often come from your existing salary account bank, which may offer pre-approved rates.
- New car loans: Typically 8.5–12% from banks; manufacturer finance may offer 0% for select models (but always check total price vs. cash discount)
- Used car loans: 12–18% rate range; LTV restricted to 80–85% of valuation, not invoice price
- EV car loans: SBI and Bank of Baroda offer green car loans at 7.95–8.25% — the lowest segment
- Processing fee tip: Many banks waive processing fee for pre-approved auto loans or during festive season. Enter ₹0 in the fee field for these offers
For auto loan comparison, always compare the Total Cost of Ownership (EMI × tenure + processing fee + insurance), not just the interest rate. A slightly higher rate with no processing fee often wins on total cost for short tenures (36–48 months).
Student Loan Comparison — Education Financing
Student loan comparison differs from other loan types because repayment typically starts after course completion (moratorium period). Compare these four dimensions: interest rate during moratorium, post-study EMI, eligibility for government subsidies, and collateral requirement.
| Nationalized Banks | Private Banks | NBFCs | |
|---|---|---|---|
| Loan up to | ₹7.5L (no collateral) / ₹1Cr+ (with collateral) | ₹40L | ₹75L |
| Interest rate | 8.5–11% | 11–14% | 13–18% |
| Moratorium | Course + 12 months | Course + 6 months | Course only |
| Govt. subsidy eligible | ✓ Yes | ✗ No | ✗ No |
The Central Sector Interest Subsidy (CSIS) scheme covers full interest during the moratorium for students from EWS families (annual income <₹4.5L). This makes nationalized bank education loans dramatically cheaper — factor this into your comparison.
Business Loan Comparison — SME & Startup Funding
Business loan comparison requires comparing beyond EMI — working capital loans, term loans, and overdraft facilities all have different cost structures. For MSMEs, government schemes under CGTMSE guarantee up to ₹2 crore collateral-free, significantly reducing risk and often lowering the interest rate offered.
- Unsecured business loans: 14–24% from banks; 18–28% from NBFCs — compare total interest using the 24-month tenure benchmark
- Secured term loans: 10–14%; property or machinery as collateral reduces rate significantly
- MUDRA Loans (Shishu/Kishor/Tarun): 8.5–12%, prioritize PSU banks for these scheme-linked products
- Overdraft vs. Term Loan: OD interest accrues only on utilized amount — use our calculator with average utilization as principal to compare fairly
How to Compare Loans — What to Look For
A complete loan comparison goes beyond the headline interest rate. Here are the five dimensions that determine the true cost of a loan:
- Interest Rate (APR vs. Nominal): Always compare Annual Percentage Rate (APR), which includes processing fees amortized over the tenure. A "10%" loan with 2% processing fee has an effective APR of ~11.5% for a 3-year term.
- Processing Fees & Hidden Charges: Stamp duty, legal fees, MODT charges for home loans, valuation fees for car loans. Enter these in the "Processing Fee" field to get accurate total cost.
- Prepayment & Foreclosure: RBI mandates zero prepayment charges on floating-rate home loans but allows up to 5% on fixed-rate loans. If you plan to prepay within 3–5 years, this can outweigh rate differences.
- Tenure Flexibility: Some lenders offer step-up EMI (lower EMI initially, higher later) or bullet repayment options — useful for business loans where cash flow is seasonal.
- Credit Score Impact: Lenders often have different risk-based pricing. A CIBIL score of 750+ may qualify you for the best rate tier; 700–749 for the next tier. Getting quotes at your actual score prevents surprises.
Loan Comparison UK — Best UK Loan Rates
For loan comparison UK users, the calculator works identically — enter the APR (Annual Percentage Rate) quoted by UK lenders in the "Rate" field. UK personal loans (Barclays, HSBC, Lloyds, NatWest, Santander) quote Representative APR which is offered to at least 51% of successful applicants.
| UK Lender | Representative APR | Loan Range | Max Tenure |
|---|---|---|---|
| Barclays | From 6.5% APR | £1,000–£35,000 | 5 years |
| HSBC | From 6.9% APR | £1,000–£25,000 | 5 years |
| Lloyds Bank | From 6.4% APR | £1,000–£50,000 | 7 years |
| NatWest | From 6.0% APR | £1,000–£19,500 | 7 years |
| Sainsbury's Bank | From 6.3% APR | £1,000–£40,000 | 7 years |
In the UK, all consumer credit lenders must be FCA regulated. Check the FCA Financial Services Register before applying. For personal loan comparison UK, MoneySuperMarket, Compare the Market, and MoneySavingExpert's eligibility tools show soft-search pre-approval without impacting your credit file.
Gold Loan Comparison — Quick Secured Loans
Gold loan comparison is uniquely simple: the loan amount depends entirely on gold purity and weight (LTV capped at 75% by RBI), and the interest rate is the primary differentiator. Gold loans disburse in 30 minutes — compare on rate, not speed.
| Lender | Interest Rate | LTV | Max Tenure |
|---|---|---|---|
| SBI (Realty Gold Loan) | 8.75% p.a. | 75% | 36 months |
| Bank of Baroda | 8.80% p.a. | 75% | 12 months |
| Muthoot Finance | 12–18% p.a. | 75% | 12 months |
| Manappuram Gold Loan | 12–21% p.a. | 75% | 12 months |
| HDFC Bank | 10–17% p.a. | 75% | 24 months |
Tip: PSU banks (SBI, BOB) offer significantly lower gold loan rates than gold loan NBFCs (Muthoot, Manappuram) because NBFCs price in operational costs of branch-level storage and auction risk. If you need funds for more than 6 months, the PSU rate advantage compounds meaningfully — use the calculator to quantify this difference.
Frequently Asked Questions
How to compare personal loans?
To compare personal loans: (1) Fix the loan amount and tenure as constants, then adjust only the interest rate per lender. (2) Compare EMI — lower EMI means lower monthly burden. (3) Compare total interest paid over the full term — this reveals the true cost. (4) Factor in processing fees (typically 0.5–3% of loan amount), which some lenders waive. Even a 0.5% rate difference on a ₹5L loan over 3 years saves ₹3,900 in interest.
What is the best car loan comparison site?
The best car loan comparison approach is to compare rate quotes directly from your car's manufacturer finance arm (e.g., Maruti Finance, Hyundai Finance) against your own bank (where you may have a pre-approved offer) and one NBFC (like Bajaj Finserv or HDFC). Manufacturer rates often appear lower but may have hidden prepayment restrictions. Use our calculator above to enter all three and find the true lowest total cost.
How to use a loan comparison calculator?
Enter the same loan amount for all lenders. Enter the interest rate each bank quoted you (per annum). Enter the tenure in months (e.g., 240 for 20 years). The calculator instantly shows the EMI, total interest paid, and total repayment for each. The lender with the lowest total payment is highlighted as "Best". You can also vary tenure by lender if banks offered different terms.
What is the difference between home loan and mortgage loan?
In India, "home loan" and "mortgage loan" are often used interchangeably, but there is a technical difference: a home loan is specifically for purchasing or constructing a residential property. A mortgage loan (or Loan Against Property / LAP) uses an already-owned property as collateral to raise funds for any purpose (business, medical, education). Home loans typically offer lower interest rates (8–10%) vs. LAP (10–14%) since the end-use is regulated.
Which bank offers the lowest home loan interest rate?
As of 2025, home loan rates in India start from 8.35% per annum for salaried borrowers with high credit scores (750+). SBI, Bank of Baroda, and Union Bank typically offer the lowest rates for PSU bank customers, while HFCs like LIC Housing Finance and PNB Housing Finance are competitive. Private banks (HDFC, ICICI, Axis) offer faster processing but slightly higher rates. Use our comparison calculator to see the EMI difference across quotes you receive.
How to compare student loans?
Student loan comparison should focus on: (1) Moratorium period — most lenders allow repayment to start 6–12 months after course completion. (2) Interest subsidy — government schemes (Vidya Lakshmi, Central Sector Interest Subsidy) provide subsidy for EWS students. (3) Margin requirement — loans above ₹7.5L typically require 15% margin (your contribution). (4) Collateral — required above ₹7.5L for most banks. Compare post-moratorium EMI for the same loan amount across nationalized banks vs. private banks.
What fees should I compare when taking a loan?
Beyond the interest rate, compare: (1) Processing fee — 0–3% of loan amount, often negotiable; (2) Prepayment penalty — usually 0% for floating-rate home loans (RBI mandate) but up to 5% for fixed-rate loans; (3) Foreclosure charges — same as prepayment for full closure; (4) MODT / legal fees for home loans — typically 0.1–0.5% of loan; (5) Insurance premium if the lender bundles it. Total these one-time costs and add them to the total interest for a true cost comparison.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1], where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = loan tenure in months. For example: ₹10,00,000 at 9% for 20 years → r = 0.0075, n = 240 → EMI = ₹8,997. The total amount paid = ₹8,997 × 240 = ₹21,59,280, of which ₹11,59,280 is pure interest.