Finance Calculator

EMI Calculator

Calculate your EMI with prepayment options. See how additional payments can save you money and reduce your loan tenure.
Loan Amount
$
Loan Tenure (Months)
Rate of Interest
% p.a.
Additional Monthly Payment
$
Pay fixed EMI + additional amount each month to finish loan faster

Loan Summary

Monthly EMI
$8,678
(Fixed + Additional)
Total Interest Paid
$10,82,776
Loan Completion Time
20 years
Total Amount Paid
$20,82,776
Principal + Interest
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Payment Breakdown

Loan Amount:$10,00,000
Standard EMI (without additional):$8,678
Interest Rate:8.5% p.a.
Original Tenure:20 years

How to Use This Calculator

1
Enter Loan Details: Input your loan amount, tenure in months, and interest rate.
2
Add Prepayment Amount: Enter any additional amount you plan to pay each month beyond the EMI.
3
Choose Strategy: Select whether to reduce tenure (pay off faster) or reduce EMI (lower monthly payments).
4
Analyze Results: Review the charts and summary to see how prepayments save you money and time.

Next Steps

📋

Review Your Budget

Ensure the EMI fits comfortably within your monthly budget, leaving room for savings and emergencies.

💡

Plan Prepayments

Even small additional payments can significantly reduce interest. Consider using bonuses or raises for prepayment.

📊

Track Progress

Monitor your loan balance regularly and adjust prepayments as your financial situation improves.

🎯

Stay Disciplined

Set up auto-debit for EMI and additional payments to ensure consistent progress toward loan closure.

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