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Loans

EMI, amortization schedules

Work out your loan EMI for a home, car or personal loan, then see the full amortization schedule — how much of every payment goes to principal versus interest, and the total interest you'll pay over the tenure. It's the fast way to compare tenures or check whether prepaying is worth it. Free, instant, no signup.

Before you sign a loan

The EMI tells you whether you can pay each month; the amortization schedule tells you what the loan really costs. Look at total interest across the tenure, not just the EMI, and compare two or three tenures side by side: a longer tenure lowers the EMI but can add lakhs in interest. Home Loan Eligibility shows how much a lender is likely to approve against your income, which is not the same as how much you should borrow.

Prepayment and processing costs

Part-prepaying a floating-rate home loan usually carries no penalty for individuals, and early prepayments save the most interest because the balance is highest then. Fixed-rate and personal loans often charge a foreclosure fee, so check your loan agreement. Processing fees, insurance bundled with the loan and GST on fees all add to the cost even though they never appear in the EMI.

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