đ Loan Details
đ How It Works
Enter your loan details on the left and click "Calculate EMI" to see your monthly payment breakdown and amortization schedule.
⨠Features
Multi-Currency
Support for USD, EUR, GBP, and INR
Smart Calculations
Precise EMI calculations with amortization
Amortization
Detailed month-by-month breakdown
Rate Scenarios
Compare different interest rates
đ¯ Common Use Cases
Personal Use
- đ Home Loans: Calculate mortgage payments
- đ Auto Loans: Plan vehicle financing
- đ Education Loans: Understand repayment obligations
- đŗ Personal Loans: Budget monthly payments
Professional Use
- đĸ Business Loans: Financial planning
- đ Financial Analysis: Comparative scenarios
- đŧ Advisors: Client consultations
- đ Risk Assessment: Rate change analysis
â Frequently Asked Questions
What is an Amortization Schedule? âŧ
An amortization schedule is a detailed table showing each loan payment, breaking down how much goes toward principal and interest. It helps you track your loan balance over time.
What is EMI? âŧ
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your loan. It includes both principal and interest components.
What's the difference between fixed and variable rates? âŧ
Fixed Rate: Your interest rate remains the same throughout the loan term. Variable Rate: Your interest rate can change based on market conditions, affecting your future payments.
What are admin charges? âŧ
Admin charges are additional fees that lenders may impose for loan processing, documentation, or other administrative services. These are added to your monthly payment.
How is total interest calculated? âŧ
Total interest = (Monthly Payment à Number of Months) - Principal Amount. For variable rates, it's based on the current rate at calculation time.
Can I prepay my loan? âŧ
Most loans allow prepayment, which can save you interest. Check with your lender about prepayment penalties if any. Use this calculator to compare scenarios.