Compare total cost and worst-year EMI—not only today’s rate.
Fixed vs Floating Loan Calculator
Compare fixed-rate certainty with a floating-rate path that resets over time. Adjust the assumptions, inspect the chart and read the complete guide below.
02 Your projection
Fixed path costs less by₹7.92 LUpdates instantly as you edit
Fixed total outflow₹1.09 Cr
Floating total outflow₹1.17 Cr
Starting floating EMI₹43,075
Cost comparisonCurrent versus proposed
MeasureCurrentAfter change
Starting EMI₹45,308₹43,075
Total interest₹58,74,008₹66,81,457
Total with fees₹1,08,99,008₹1,16,91,457
Full amortisation schedule240 monthly instalments
Projection journeyHover to inspect a year
The floating path reprices annually using the entered change and recalculates EMI to preserve the maturity date. Actual benchmark resets can move differently.
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Five smart nudges
Use the result with context.
Read the benchmark, spread and reset frequency in the KFS.
Test floating rates at least two percentage points higher.
Include conversion and service charges in both paths.
Choose certainty when a higher EMI would strain essential spending.
Understanding Fixed vs Floating in India
Editorially reviewed 14 July 2026 · Rules and assumptions can change
Certainty versus an uncertain rate path
A fixed-rate loan sets a contractual rate for the stated period, while a floating loan moves with its benchmark and spread under the agreement. The lower starting rate is not automatically the cheaper lifetime choice. This calculator keeps the fixed rate constant and reprices the floating path annually using the change entered by the user, recalculating EMI to preserve the selected maturity date.
Run at least three paths: unchanged floating rate, gradual increases and gradual decreases. A household that cannot absorb the higher path may value fixed-rate certainty even when the base-case total is higher. Confirm whether the quoted fixed rate is fixed for the complete tenure or only an initial period.
Read benchmark, spread and reset frequency
For a floating loan, identify the external or internal benchmark, lender spread, reset frequency and next reset date. Ask which circumstances allow the spread to change. Two offers with the same current rate can behave differently because their benchmarks and reset cycles differ.
RBI’s reset directions require applicable choices and transparent disclosure around options and charges. Obtain the KFS and sanction letter; the calculator’s annual reset is a scenario simplification, not a reproduction of a particular lender contract.
Include switching and service costs
Fixed and floating options may carry different processing, conversion or service fees. Add them before comparing total outflow. A small rate advantage can disappear when the remaining tenure or balance is low.
If switching an existing floating loan to fixed, compare the fee with the protection obtained and ask how many later switches are permitted. Also compare part-prepayment and a higher EMI as alternatives to paying for a rate switch.
Decision checklist
Compare starting EMI, stressed EMI, total interest, fees and cash-flow resilience. Check whether the fixed period matches the loan tenure and whether prepayment terms differ.
Preserve emergency liquidity and do not choose floating merely to maximise theoretical eligibility. Recalculate after every material reset and keep the revised schedule.
Official sources used for this guide
Rates, thresholds and rules can change after the review date. Check the linked authority and the provider’s current documents before acting.
Fixed vs Floating calculator FAQs
Is a fixed loan always safer?
It improves payment certainty but can cost more and may be fixed only for a limited period; read the contract.
Can floating EMI and tenure both change?
Contract and borrower choice determine the treatment; RBI directions require applicable options to be communicated.
Why model annual changes?
It creates a transparent scenario; actual reset frequency and benchmark movement can differ.
Should fees be added?
Yes. Compare total outflow after processing and conversion costs.
What if the floating rate falls?
Run a negative annual-change scenario, but do not treat it as a forecast.