Loan calculator
What will this loan really cost?
See your EMI, total interest and fees, how fast the balance falls, and what prepaying saves. Add up to three loans to compare offers side by side.
Planning estimates for education — not financial advice. Rates and returns change.
Option A
e.g. 50L, 8,00,000
Prepayments & affordability
Monthly EMI
₹40,280
240 payments
Total interest
₹46.67 L
Processing fee
₹20,650
Total cost
₹96.88 L
Principal + interest + fees
True yearly cost
7.55%
Quoted 7.5%
Where your money goes
- Principal
- Interest
- Fees (incl. GST)
- Total repayment₹96.88 L
Principal ₹50 LInterest ₹46.67 LFees (incl. GST) ₹20,650
Principal is what you borrow; interest and fees are the cost of borrowing.
Outstanding balance over time
Principal vs interest paid each year
- Principal
- Interest
- Prepayment
Yearly amortisation table
| Year | Principal | Interest | Prepaid | Balance |
|---|---|---|---|---|
| 1 | ₹1,12,164 | ₹3,71,196 | ₹0 | ₹48,87,836 |
| 2 | ₹1,20,871 | ₹3,62,489 | ₹0 | ₹47,66,965 |
| 3 | ₹1,30,255 | ₹3,53,105 | ₹0 | ₹46,36,711 |
| 4 | ₹1,40,367 | ₹3,42,993 | ₹0 | ₹44,96,344 |
| 5 | ₹1,51,264 | ₹3,32,096 | ₹0 | ₹43,45,080 |
| 6 | ₹1,63,007 | ₹3,20,353 | ₹0 | ₹41,82,074 |
| 7 | ₹1,75,661 | ₹3,07,699 | ₹0 | ₹40,06,412 |
| 8 | ₹1,89,298 | ₹2,94,062 | ₹0 | ₹38,17,114 |
| 9 | ₹2,03,994 | ₹2,79,366 | ₹0 | ₹36,13,120 |
| 10 | ₹2,19,831 | ₹2,63,529 | ₹0 | ₹33,93,289 |
| 11 | ₹2,36,897 | ₹2,46,463 | ₹0 | ₹31,56,392 |
| 12 | ₹2,55,288 | ₹2,28,072 | ₹0 | ₹29,01,105 |
| 13 | ₹2,75,106 | ₹2,08,254 | ₹0 | ₹26,25,998 |
| 14 | ₹2,96,464 | ₹1,86,897 | ₹0 | ₹23,29,535 |
| 15 | ₹3,19,479 | ₹1,63,881 | ₹0 | ₹20,10,056 |
| 16 | ₹3,44,281 | ₹1,39,079 | ₹0 | ₹16,65,775 |
| 17 | ₹3,71,008 | ₹1,12,352 | ₹0 | ₹12,94,767 |
| 18 | ₹3,99,810 | ₹83,550 | ₹0 | ₹8,94,957 |
| 19 | ₹4,30,849 | ₹52,511 | ₹0 | ₹4,64,108 |
| 20 | ₹4,64,108 | ₹19,063 | ₹0 | ₹0 |
Early EMIs are mostly interest; the principal share grows over time.
Suggestions
- 📌Interest is 48.2% of everything you repay (₹46.67 L).
- 📌The processing fee of ₹20,650 (incl. 18% GST) lifts the true yearly cost from 7.5% to about 7.55%. Ask the lender to waive or reduce it.
- 💡Paying one extra EMI (₹40,280) each year would close the loan 3 yrs early and save ₹8.01 L in interest.
- 📌A tenure 5 years shorter raises the EMI by ₹6,071 but saves ₹13.24 L in interest.
Educational planning estimates, not financial advice.
How it's calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), with r = yearly rate ÷ 12 and n = months, rounded to the rupee. Interest is charged monthly on the reducing balance; the last EMI is adjusted to close the loan.
The true yearly cost spreads the processing fee (plus 18% GST) over the loan by solving for the rate at which your payments equal the amount you actually receive. Default processing fees are typical illustrations — check your lender's schedule.