ganak.appLoan Calculator
Universal loan EMI calculator for any loan type - personal, car, education, business, or gold loans. Calculate monthly payments, total interest payable, and complete repayment schedule. Compare loans from different banks and NBFCs. Includes prepayment impact analysis and loan restructuring scenarios.
Loan Amortization Overview
Cumulative principal and interest payments over time
Yearly view – Payment breakdown
Amortization Schedule
See how your loan balance reduces over time with each payment
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹99,510 | ₹421,182 | ₹4,900,490 |
| 2 | ₹108,306 | ₹412,386 | ₹4,792,184 |
| 3 | ₹117,879 | ₹402,813 | ₹4,674,305 |
| 4 | ₹128,298 | ₹392,394 | ₹4,546,007 |
| 5 | ₹139,638 | ₹381,054 | ₹4,406,369 |
| 6 | ₹151,981 | ₹368,711 | ₹4,254,388 |
| 7 | ₹165,414 | ₹355,278 | ₹4,088,974 |
| 8 | ₹180,038 | ₹340,654 | ₹3,908,936 |
| 9 | ₹195,950 | ₹324,742 | ₹3,712,986 |
| 10 | ₹213,272 | ₹307,420 | ₹3,499,714 |
| 11 | ₹232,121 | ₹288,571 | ₹3,267,593 |
| 12 | ₹252,638 | ₹268,054 | ₹3,014,955 |
| 13 | ₹274,969 | ₹245,723 | ₹2,739,986 |
| 14 | ₹299,275 | ₹221,417 | ₹2,440,711 |
| 15 | ₹325,729 | ₹194,963 | ₹2,114,982 |
| 16 | ₹354,519 | ₹166,173 | ₹1,760,463 |
| 17 | ₹385,855 | ₹134,837 | ₹1,374,608 |
| 18 | ₹419,960 | ₹100,732 | ₹954,648 |
| 19 | ₹457,082 | ₹63,610 | ₹497,566 |
| 20 | ₹497,566 | ₹23,209 | ₹0 |
What is a Loan Calculator?
Estimate EMI, interest, and total cost before borrowing
A loan calculator helps you estimate your monthly EMI, total interest payable, and total cost of a loan before you borrow. By entering your loan amount, interest rate and tenure, you can quickly see how affordable a loan is and how it will impact your monthly budget.
Instead of relying on sales pitches from lenders, a loan calculator gives you a neutral, number-first view of your loan. You can adjust amount, interest rate and tenure to find a combination that fits your income and comfort level.
How Loan EMI is Calculated
Principal and interest split in each monthly payment
Your loan EMI (Equated Monthly Installment) is a fixed amount you pay every month until the loan is fully repaid. Each EMI has two parts:
- Principal – the amount that reduces your outstanding loan
- Interest – the cost you pay to the lender for borrowing
At the start of the loan, a larger portion of your EMI goes towards interest. Over time, as the principal reduces, more of your EMI goes towards principal repayment.
Loan EMI Formula
The standard EMI formula with a worked example
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]P = Principal loan amount
R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
N = Loan tenure in months
Example:
Loan: ₹10,00,000
Interest rate: 9% p.a.
Tenure: 10 years (120 months)
EMI: ₹12,668
Total Interest: ₹5,20,082
Total Amount Payable: ₹15,20,082
This is exactly the same calculation the calculator uses behind the scenes.
How to Choose the Right Loan EMI
Income-based rules, tenure trade-offs, and rate comparison
1. Match EMI to your income
A common thumb rule is to keep total EMIs within 30–40% of your monthly take-home income. This leaves room for living expenses, savings and emergencies.
2. Adjust tenure vs EMI
A longer tenure reduces EMI but increases total interest. A shorter tenure increases EMI but saves a lot of interest. Use this calculator to test different combinations and see what works for you.
3. Compare offers from multiple lenders
Even a 0.25–0.5% difference in interest rate can change your total interest by tens of thousands of rupees. Use the same loan details and compare EMIs from different banks/NBFCs.
Prepayment Impact on Your Loan
Reduce tenure vs reduce EMI -- which saves more
When you make a prepayment on your loan, you have two main options:
Reduce Tenure (Recommended)
- ✓ EMI stays the same
- ✓ Loan closes earlier
- ✓ You save more interest overall
Reduce EMI
- • EMI reduces
- • Loan tenure remains similar or slightly lower
- • Good when you want to reduce monthly outgo
Use the prepayment options in this Loan Calculator to see how a lump-sum prepayment or extra monthly payments can reduce your total interest and shorten your loan.
Frequently Asked Questions
Common questions about loan EMI, interest rates, and repayment