Loan Calculator
Calculate monthly loan payments, total interest and amortization schedule for all loan types.
Amortization Schedule (First 12 months)
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹4,339 | ₹797 | ₹3,542 | ₹499,203 |
| 2 | ₹4,339 | ₹797 | ₹3,542 | ₹498,400 |
| 3 | ₹4,339 | ₹797 | ₹3,542 | ₹497,591 |
| 4 | ₹4,339 | ₹797 | ₹3,542 | ₹496,777 |
| 5 | ₹4,339 | ₹797 | ₹3,542 | ₹495,956 |
| 6 | ₹4,339 | ₹797 | ₹3,542 | ₹495,130 |
| 7 | ₹4,339 | ₹797 | ₹3,542 | ₹494,299 |
| 8 | ₹4,339 | ₹797 | ₹3,542 | ₹493,461 |
| 9 | ₹4,339 | ₹797 | ₹3,542 | ₹492,617 |
| 10 | ₹4,339 | ₹797 | ₹3,542 | ₹491,768 |
| 11 | ₹4,339 | ₹797 | ₹3,542 | ₹490,912 |
| 12 | ₹4,339 | ₹797 | ₹3,542 | ₹490,050 |
Understanding Loan Calculations
A loan calculator helps you understand the true cost of borrowing. When you take a loan, you repay the principal plus interest. Interest is calculated on the outstanding balance each month — this is why early payments mostly go toward interest. As you pay down the principal, more of each payment reduces the loan balance.
Even a small reduction in interest rate can save lakhs of rupees over the life of a home loan. Use this calculator to compare loan offers before committing.
Frequently Asked Questions
How is EMI calculated?▼
EMI = P × R × (1+R)^N ÷ ((1+R)^N − 1), where P=Loan Amount, R=Monthly Rate, N=Months.
Should I choose shorter or longer tenure?▼
Shorter tenure = higher EMI but less total interest. Longer tenure = lower EMI but more total interest paid.
Is this calculator accurate?▼
Yes, we use the standard EMI formula used by all Indian banks. Always verify final numbers with your lender.
Is it free?▼
Yes, 100% free. No account needed.