Loans & EMI / Free tool
Loan prepayment calculator
See how a fixed extra monthly payment can shorten a loan.
Your estimate
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Illustrative estimate. See calculation assumptions below.
Monthly repayment schedule
Principal and interest, one payment at a time.
| Month | Payment | Principal | Interest | Balance |
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How this calculation works
EMI = P × r ÷ (1 − (1 + r)^(−n)), where r is the monthly rate and n is the number of monthly payments. At 0% interest, EMI = P ÷ n.
Assumptions & limitations
Monthly payments at the end of each month, a constant annual rate divided by 12, and reducing-balance interest. Excludes fees, taxes, insurance, moratoriums and rate changes. Actual lender schedules may differ. Extra payments start with the first payment and reduce tenure. No prepayment fee is assumed.
Change the inputs to compare scenarios. A calculated illustration does not confirm a bank offer, investment return, insurance benefit or eligibility.