Loan Calculator
Plan any loan from start to finish. Get your EMI, total interest, total cost and a complete year-by-year repayment schedule.
Plan your loan repayment
Enter amount, rate and tenure
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
Understand the true cost of your loan
The headline interest rate only tells part of the story. What really matters is the total cost of borrowing: the sum of every EMI you will pay over the full tenure. A small change in rate or tenure can mean lakhs of rupees in extra interest.
The repayment schedule above shows how your outstanding balance falls each year, and how the split between principal and interest shifts over time. Use it to decide whether a shorter tenure or a prepayment makes sense for you.
EMI formula
EMI = P × r × (1 + r)n ÷ [ (1 + r)n − 1 ], where P is principal, r is the monthly rate and n is the number of months.
Total cost
Total cost = EMI × number of months. Total interest = Total cost − loan amount. This is the real price of borrowing.
How a loan reduces over time
Every EMI is split into interest on the outstanding balance and a repayment of principal. Early on, most of the EMI is interest; as the balance falls, more of each EMI repays the principal, until the loan reaches zero.
| Stage | Goes to interest | Goes to principal |
|---|---|---|
| Early years | High | Low |
| Middle years | Balanced | Balanced |
| Final years | Low | High |
This is why prepaying early in the tenure saves the most interest.
Types of loans you can plan
The same calculator works for every reducing-balance loan in India.
Home loan
Long tenures of 15 to 30 years, so even a 0.5% rate difference changes the total cost hugely.
Car loan
Usually 3 to 7 years. A shorter tenure keeps the total interest comfortably low.
Personal loan
Higher rates and shorter tenures, so borrow only what you genuinely need.
Business loan
Match the tenure to your expected cash flows so EMIs stay affordable.
Compare before you commit
Picking the right loan is about more than the lowest EMI. Use the calculator above to compare different amounts, rates and tenures side by side, and let the repayment schedule reveal the true lifetime cost of each option.
- See the full year-by-year repayment schedule.
- Compare total interest across rate and tenure options.
- Find out how much prepayment can save you.
- Plan a comfortable EMI within your monthly budget.
Loan Calculator FAQs
It calculates your monthly EMI, the total interest payable, the total cost of the loan, and a complete year-by-year repayment schedule showing how the balance reduces.
It is a breakdown of how each payment is split between principal and interest, with the remaining balance after each year. Early years are interest-heavy; later years repay more principal.
Borrow less, opt for a shorter tenure, negotiate a lower interest rate, and make prepayments whenever possible. Each reduces the total interest you pay.
Yes. It uses the standard reducing-balance EMI method that Indian banks and NBFCs use, so the EMI and schedule match typical loan statements closely.
Both cut total interest. A lower interest rate helps at any tenure, while a shorter tenure raises the monthly EMI but reduces total interest sharply. Compare both in the calculator to see the exact difference for your loan.
Prepaying early in the tenure saves the most, because the outstanding balance, and the interest charged on it, is highest at the start of the loan.
Typically identity and address proof, income proof such as salary slips or ITRs, bank statements, and for secured loans, the property or asset papers. Requirements vary by lender and loan type.
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