Loan Rate Comparison Calculator

PKR
%/yr
%/yr
months
Finance Updated 16 Jun 2026

Loan Rate Comparison Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. The formula used is: EMI = P × r × (1+r)^n / ((1+r)^n − 1)\nwhere r = annual rate / 12 / 100\nSavings = Total Paid (Rate2) − Total Paid (Rate1). Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).

Formula

EMI = P × r × (1+r)^n / ((1+r)^n − 1) where r = annual rate / 12 / 100 Savings = Total Paid (Rate2) − Total Paid (Rate1)

Example Calculation

Inputs
  • Loan Amount (PKR): 500000 PKR
  • Rate 1: 14 %/yr
  • Rate 2: 18 %/yr
  • Loan Term: 36 months

Suppose you enter: Loan Amount (PKR) = 500000, Rate 1 = 14, Rate 2 = 18, Loan Term = 36. The calculator applies the formula (EMI = P × r × (1+r)^n / ((1+r)^n − 1)\nwhere r = annual rate / 12 / 100\nSavings = Total Paid (Rate2) − Total Paid (Rate1)) and shows all output values below. Change any input field to immediately see how the result changes.

Frequently asked questions

What is the Loan Rate Comparison?
The Loan Rate Comparison Calculator is a financial calculator that helps you calculate loan or mortgage payment amounts and total repayment cost. Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
When should I use this calculator?
Use this calculator whenever you need a quick, accurate result for loan or mortgage payment amounts and total repayment cost without working through the arithmetic manually.
What units should I enter?
Enter monetary values in your local currency. Enter interest rates as plain numbers (e.g. enter 5 for 5 %).
How accurate are the results?
Assumes constant rates, no additional fees, and no tax unless stated. Actual outcomes vary with market conditions.
How do I interpret the result?
Compare against your financial goals or market benchmarks. A higher figure may mean greater cost or greater return depending on context.
How can I verify the calculation manually?
Use the displayed formula and work through the numbers step by step. If your manual result differs slightly, check rounding and unit conversions first.
Can I use this for planning and budgeting?
Yes. Run best-case, expected, and worst-case inputs to compare outcomes and make safer planning decisions.