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Total repayment — the sum of all payments over the life of the loan. It captures principal, interest, and tenure in one number. The loan with the lowest total repayment is the cheapest, provided the principals are the same.

No. A lower EMI usually means a longer tenure, which means you pay much more interest overall. Compare total repayment, not just the monthly outflow.

Compare the total repayment for the amount you actually need. If one loan offers more principal than you need, calculate the cost for the amount you'll actually use — not the maximum offered.

Reducing balance charges interest only on the outstanding balance — interest falls as you repay. Flat rate charges interest on the full original principal for the entire tenure. A flat 10% ≈ reducing 18%.

No. It compares loans based on principal, rate, and tenure only. To include fees, subtract them from the principal and rerun the numbers.

Up to three. That's enough to compare the typical shortlist of offers without overwhelming the interface.

The loan with the lowest total repayment (principal + total interest) is highlighted in green as the best deal. If principals differ, this still gives the most accurate comparison.

Yes, but remember that the floating-rate loan's rate can change. Use the current rate for comparison, and factor in your expectations for future rate movements.

Prepayment penalties can wipe out the savings from a lower rate. If you plan to prepay, add the penalty to the total cost of that loan before comparing.

Longer tenure means lower EMI but higher total interest. This calculator captures that automatically in the total repayment figure.

Not necessarily. Real-world offers often have different tenures. Comparing total repayment handles this correctly — a loan with a longer tenure but lower rate might still win.

A table showing every payment over the life of the loan, broken into principal and interest, with the remaining balance after each payment. It's the most honest view of what a loan actually costs.

You can download the amortization schedule of the best loan as a CSV. Individual loan comparisons aren't exportable in this version.

To keep the page focused. The best loan is the one you're most likely to choose, so its schedule is the most useful. You can calculate individual schedules using the EMI Calculator.

Floating-rate loans are linked to benchmarks that move with the repo rate. When comparing, consider whether each loan is fixed or floating and your expectations for future rates.

EMI stands for Equated Monthly Instalment — the fixed amount you pay your lender every month until the loan is fully repaid. It includes both principal and interest.

Not directly. What affects your score is repayment behaviour — paying on time, not defaulting. But longer tenure means more total interest, which affects your overall financial health.

Yes, but you'll likely pay a higher interest rate. Some NBFCs and fintech lenders specialise in lower-score borrowers. Improving your score first can save you a lot.

A secured loan is backed by collateral (like a home or car), so interest rates are lower. An unsecured loan has no collateral, so rates are higher to compensate for risk.

Moving your loan to a new lender offering a lower rate. Can significantly reduce total interest — but factor in processing fees and foreclosure charges on the old loan.

Depends on the loan type. Fixed-rate loans keep the same rate throughout. Floating-rate loans change with market conditions. Most home loans in India are floating-rate.

Missing a payment triggers a late fee (usually 1–2% of the overdue amount), damages your credit score, and can lead to legal action if repeated. Contact your lender immediately if you're struggling.

A common rule: total EMIs shouldn't exceed 35–40% of your net monthly income. Use our Affordability Calculator for a more accurate picture based on your real budget.

The lender has assessed your profile and is willing to lend a certain amount without a full application. Usually based on your credit history and relationship with the lender.

Yes, but lenders consider your total debt-to-income ratio. Too many active loans can make it harder to get new credit and may increase the rate on future loans.

A secured loan where you pledge your property as collateral. Interest rates are usually lower than unsecured personal loans.

Personal loans: hours to days. Home loans: 1–3 weeks due to property verification and legal checks. Car loans: usually 1–3 days.

Also called a moratorium — a temporary period without EMIs. Interest still accrues, so you'll pay more overall. Some lenders offer this for job loss or medical emergencies.

Fixed offers certainty but often starts slightly higher. Floating can be cheaper if rates fall, costlier if they rise. Choose based on your risk tolerance and rate expectations.

A numerical representation of your creditworthiness (300–900 in India). Higher scores (750+) get better rates, faster approvals, and higher eligibility.

Pay all bills on time, keep credit utilisation under 30%, don't apply for too much credit at once, and maintain a mix of credit types. Check your report for errors regularly.

Legal action, seizure of collateral (for secured loans), severe damage to your credit score, and difficulty getting credit in future. Talk to your lender early — most prefer restructuring over default.

Shortest tenure your comfortable EMI can support. A longer tenure reduces monthly strain but increases total interest significantly.

A shortcut to estimate doubling time: 72 ÷ rate = years. At 9%, money doubles in about 8 years. Useful for understanding compound growth or debt.

Some retailers offer "0% EMI" schemes, but the cost is usually hidden in the product price or a processing fee. Read the fine print.