Start with the repayment basics
Enter the sanctioned loan amount, annual interest rate, full tenure and actual dates. The first EMI date determines any pre EMI accrual.
PLAN WITH CLARITY
Model your loan repayment
Loan Details
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% p.a.
Prepayments reduce principal on the exact date. Interest in that EMI cycle splits around the prepayment date using actual days.
Each prepayment has its own action (Reduce EMI or Reduce Tenure) processed independently.
Multiple prepayments are sorted chronologically and processed in order.
Prepayments
Step Up Configuration
% Step Up Only
Fixed Additional
Combination
%
Prepayments (optional)
EMI, EXPLAINED
See what shapes your repayment
This calculator models a reducing balance loan, the timing of the first EMI and optional repayment changes. Use the full ledger to understand how each payment is split between interest and principal.
Compare prepayment choices
Choose whether each prepayment should reduce the future EMI or retain the EMI and shorten the remaining tenure.
Test a rising repayment
A step up plan increases payments each year by a percentage, fixed amount or a combination, which may reduce interest and close the loan sooner.
Standard EMI formula
This formula applies to regular monthly periods. This calculator adjusts the equal EMI for the actual first payment gap, using actual days and a 365 day year for that initial interest. Later full cycles use the monthly rate. Unpaid interest is not compounded.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)Advanced EMI questions, answered clearly
How is the EMI calculated?
The calculator uses the loan amount, annual interest rate and repayment tenure to estimate the EMI using the reducing balance method.
What is pre EMI interest?
It is the interest accrued between the loan disbursement date and the first EMI date. The calculator collects it through the first installment and carries forward any unpaid amount.
How does a prepayment affect my loan?
A prepayment pays interest accrued to its date first, then reduces principal. Choose a lower EMI or retain the EMI to shorten the tenure. A payment covering the full balance settles the loan on that date.
What is a step up EMI?
A step up EMI increases your repayment periodically by a percentage, fixed monthly amount or both. This can help repay the loan sooner and reduce total interest.
Why might the result differ from my lender's schedule?
Lenders may use different rounding rules, day count methods, fees and prepayment policies. The calculator's results are estimates and should be confirmed with your lender.
Can I add multiple prepayments?
Yes. You can enter multiple prepayments with different dates, amounts and actions. They are processed chronologically.
What is the difference between "Reduce EMI" and "Reduce Tenure"?
"Reduce EMI" recalculates a lower EMI over the remaining repayment period. "Reduce Tenure" retains the current EMI and uses the lower principal balance to repay the loan sooner.
Does the loan tenure begin from the disbursement date?
The entered tenure is the number of scheduled monthly repayments beginning on the first EMI date. The gap before that date affects pre EMI interest but does not silently remove installments from the tenure.
Why does the first EMI date affect my total repayment?
A longer gap between disbursement and the first EMI creates more accrued interest. The calculator adjusts the equal EMI to repay that interest and principal over the entered tenure, without a forced extra final payment. Unpaid interest is carried without compounding.
!
This calculator provides estimates for educational and planning purposes only. Actual lender schedules may differ because of rounding, fees, day count conventions, rate changes and prepayment rules. Confirm repayment terms and charges with your lender before making a financial decision.