Loan Comparison Calculator
Loan choice
Personal loan vs credit card EMI
Enter your amount, rates, and tenure to see which option keeps interest lowest. Results stay on-page with no external lookups.
Enter loan details
Personal loan EMI
$9,603
Total interest: $30,462
Credit card EMI
$10,574
Total interest: $53,781
Interest difference
$23,319
Personal loan saves this amount
Recommendation
Personal loan wins. You would save $23,319 in interest versus converting to a credit card EMI.
- Check processing fees and foreclosure charges alongside the EMI.
- Factor in reward points or discounts offered on card EMI conversions.
- Choose the option that lets you prepay without penalties if you expect cash inflows.
Visual comparison
Use the Loan Comparison Calculator to compare total interest and monthly payments between a personal loan and credit-card EMI.
Who should use this calculator
- Borrowers deciding between a personal loan and card EMI
- People comparing monthly affordability and total interest costs
- Financial planners advising clients on short-term financing
It is particularly helpful when offers include upfront fees, different prepayment rules, or when you want to model the effect of a one-time top-up versus monthly affordability. Use it to stress-test repayment choices under multiple realistic inputs.
How this calculator works
You enter loan amounts, annual rates, and tenure for each option. The tool computes monthly payments and totals using standard amortization logic for EMIs. It does not fetch external rates or include lender-specific fees automatically.
The comparison highlights the per-month cost, total interest paid, and total repayment amount, letting you see which option is cheaper on a cash-flow or cumulative-cost basis. For a fair comparison, add any known processing fees or conversion charges into the input amounts.
How to interpret the results
Compare the monthly EMI and the total interest cost for each option. The lower total interest usually indicates the cheaper option, but consider fees, flexibility, and prepayment rules when deciding.
For example, a personal loan with slightly higher monthly cost but permissive prepayment terms might be cheaper overall if you plan large prepayments; conversely a short-term EMI at a promotional rate might be attractive if you can pay it off quickly.
Example
If a ₹2,00,000 expense can be funded by a 3-year personal loan at 10% or a 12-month card EMI at 9% with a conversion fee, the comparison will show different monthly payments and total interest—use the calculator to enter both options and compare.
Limitations & disclaimer
Estimates only. Processing fees, GST, promotional interest-free offers, and lender policies can change real costs. Not financial advice—confirm final terms with lenders.
How to read this comparison
Both options are calculated with EMI logic and assume fixed rates for the tenure. We do not add processing fees or GST by default—include those manually if your lender charges them.
- Personal loans often allow prepayment after a short lock-in; credit card EMIs may charge a foreclosure or conversion fee.
- Card EMIs can be instant but may have promotional periods that change the effective rate.
- Balance cost, flexibility to prepay, and immediacy of funds when choosing an option.