💰 Loan Calculator
Use sliders or input fields to calculate your EMI and view amortization schedule.
Loan Repayment Summary
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📘 Your Amortization Details
| Month | Principal Paid | Interest Paid | Total Payment | Remaining Balance |
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About the Loan Calculator
Our Loan Calculator helps you easily estimate your monthly EMI (Equated Monthly Installment), total interest payable, and the total repayment amount for your loan. Whether you're planning to take a home loan, car loan, or a personal loan, this tool gives you a clear picture of your financial commitment over time.
🔢 How the EMI is Calculated
The EMI is calculated using the standard formula for annuity loans:
EMI = [P x R x (1 + R)N] / [(1 + R)N - 1]
Where:
P = Loan amount (Principal)
R = Monthly interest rate = Annual Rate ÷ 12 ÷ 100
N = Loan tenure in months
This formula ensures that the EMI remains constant throughout the tenure, while the interest and principal components vary every month.
📊 Amortization Table
Along with the EMI breakdown, the calculator also generates a detailed Amortization Schedule. This schedule shows the month-wise or year-wise split of how much of your EMI goes towards principal repayment and how much goes towards interest. It also helps you track the outstanding balance over time.
💡 Why Use This Tool?
- Estimate your monthly loan payments accurately
- Compare different loan amounts, rates, and tenures
- Understand the true cost of borrowing with total interest calculation
- Plan prepayments or refinancing using the amortization view
