Loan Comparison & Early Payoff Savings Calculator
Compare two bank loan proposals side-by-side or analyze how extra monthly principal prepayments reduce total interest paid and shorten loan tenure.
Key Features
- Side-by-side comparison of two loans (Interest rate, tenure, processing fee, EMI)
- Early payoff savings analyzer (calculate interest saved with extra monthly payments)
- Tenure reduction vs Monthly EMI reduction simulation
- Total cost comparison matrix
- 100% private financial calculation engine
How to Use Side-by-Side Loan Comparator & Prepayment Saver
- Enter Loan A parameters (Amount, Interest %, Tenure).
- Enter Loan B parameters to compare side-by-side.
- Or enter Extra Payment amount to see how many years of loan payments you save.
- Review total interest savings and shortened payoff date.
Frequently Asked Questions
How does paying extra principal reduce total loan cost?
Extra prepayments directly reduce remaining loan principal balance, preventing future interest from compounding on that amount.
Should I choose a lower interest rate with a high processing fee or higher interest rate with zero fee?
Our tool calculates the total Effective Annual Cost across loan tenure, showing which offer is genuinely cheaper.
Can I compare home loan offers from different commercial banks in Nepal?
Yes, input base rates and premium margins from different banks to compare true monthly costs.
Is this loan calculator free?
Yes, 100% free with unlimited loan comparisons.