KarobarKit
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Finance · Local-first · Beta

Loan Comparison

Compare EMI, interest, fees and total cost for two user-entered loan scenarios without ranking lenders.

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Trust record

Check the method before you rely on the result

Tier B · Runs locally in this browser
Method
Two independent EMI amortizations using user-entered nominal annual interest rates, with optional rate resets and processing or other/prepayment fees added to total cost.
Total cost = principal + amortization interest across the selected rate path + user-entered fees; compare the two totals and show each EMI. APR is not calculated because fee timing is not modelled.
Sources
2 reviewed references · 1 official
Open the source register
Effective period
Formula-based; no statutory effective period
Last verified
9 August 2026
Review every 90 days
Reviewer status
Finance-method review: external review pending
Privacy
Finance inputs and results stay in this browser. Values are not sent to analytics, a backend, a URL or a log, and are not saved by default. Rates and returns are user-entered assumptions, not guarantees or lender recommendations.
Important limitations
  • Option A and Option B are neutral labels, not lender rankings or recommendations.
  • Prepayment or other fees are added as user-entered amounts; the optional reset view keeps the original term and does not simulate a principal prepayment schedule.

Read all limitationsReport an error

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A quick guide

Use the number with context

The answer is only useful when you know what it includes and what it leaves out.

How to use it

  1. Enter option a loan amount using the same currency and period assumptions as the other fields.
  2. Enter option a nominal annual interest rate using the same currency and period assumptions as the other fields.
  3. Enter option a tenure in months using the same currency and period assumptions as the other fields.
  4. Enter option a processing fee using the same currency and period assumptions as the other fields.
  5. Enter option a prepayment or other fee using the same currency and period assumptions as the other fields.
  6. Enter option a rate type using the same currency and period assumptions as the other fields.
  7. Enter option a reset after months (optional) using the same currency and period assumptions as the other fields.
  8. Enter option a new annual rate (optional) using the same currency and period assumptions as the other fields.
  9. Enter option b loan amount using the same currency and period assumptions as the other fields.
  10. Enter option b nominal annual interest rate using the same currency and period assumptions as the other fields.
  11. Enter option b tenure in months using the same currency and period assumptions as the other fields.
  12. Enter option b processing fee using the same currency and period assumptions as the other fields.
  13. Enter option b prepayment or other fee using the same currency and period assumptions as the other fields.
  14. Enter option b rate type using the same currency and period assumptions as the other fields.
  15. Enter option b reset after months (optional) using the same currency and period assumptions as the other fields.
  16. Enter option b new annual rate (optional) using the same currency and period assumptions as the other fields.

Formula

Total cost = principal + amortization interest across the selected rate path + user-entered fees; compare the two totals and show each EMI. APR is not calculated because fee timing is not modelled.

The lower arithmetic total is only lower under the assumptions entered; eligibility, security, service and legal terms are not scored.

Make it concrete

Worked example

Two ₹10,00,000 scenarios with the same 60-month term can be compared by EMI, interest, fees and total cost.

Boundaries

What this tool does not assume

Limitations

  • Option A and Option B are neutral labels, not lender rankings or recommendations.
  • Prepayment or other fees are added as user-entered amounts; the optional reset view keeps the original term and does not simulate a principal prepayment schedule.
  • The entered rate is nominal annual interest used for EMI arithmetic; this tool does not calculate an effective APR from net disbursal and dated cash flows.

Edge cases

  • Zero-rate loans are supported through principal divided by tenure.
  • Equal totals are reported as a tie rather than using a false precision ranking.

Last reviewed 9 August 2026 · Formula version 1.0

Method & sources

How this result is grounded

The formula is deterministic and runs in your browser. Read the reference below for the method used by this tool.

Questions

Frequently asked

Does the comparison identify the best bank?

No. It compares only the two assumptions you enter. Check current lender documents, eligibility and all charges separately.

Why is rate type shown separately?

A floating label signals that future resets may matter. You can add an optional reset month and rate to either scenario; actual lender policies can still differ.

Keep going

Related tools

A related local-first tool for the next step.

Found something that looks wrong? Tell us which tool and version you used.

Source register checked 9 August 2026.