Enter loan amount, interest rate, and tenure. Add optional prepayments and choose whether they shorten tenure or reduce EMI. The calculator outputs EMI, interest outgo, and a detailed amortization schedule.
🧮 Formula Reference
EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1], where P = principal, r = monthly rate (annual ÷ 12 ÷ 100), n = months.
Monthly interest = Outstanding × r; Principal = EMI − Interest; Outstanding reduces by principal.
Prepayments lower outstanding; recompute EMI or tenure as per chosen mode.