Loan Calculator

A loan payment calculator estimates how much you will repay on an amortising loan: the fixed monthly instalment (often called EMI), the split between principal and interest over time, and the total cost of borrowing. You enter the principal (loan amount), the annual nominal interest rate, and the contract tenure in years or months. The tool builds a month-by-month amortisation schedule and aggregates totals such as interest paid, total repayment, and the crossover month when the principal portion of each payment exceeds the interest portion. Under the hood it uses the standard PMT formula–the same annuity equation banks apply to fixed-rate instalment loans. Each month, interest is charged on the remaining balance at the periodic rate (annual rate divided by 12), and the remainder of the instalment reduces principal. Because every row follows that rule, the EMI stays constant while the principal and interest shares shift in a predictable way. That is why the headline instalment aligns with what you will see on most mortgage and consumer-loan disclosure sheets, provided you use the same nominal rate, tenure, and rounding convention.

This calculator goes beyond a single EMI figure. It has four dedicated tabs. Calculator covers baseline repayment, interactive charts, Smart Summary, Smart Scenarios, optional prepayment (extra monthly, lump sum, or recurring annual), and a printable amortisation table. Compare lines up to three offers side by side with Smart Verdict and a bar chart. Affordability works backwards from gross income to estimate maximum instalment and maximum loan amount at your chosen rate and tenure. Restructure models refinancing: remaining balance after payments already made, bank surcharge on outstanding principal, fixed fees, new rate, and whether the switch is net beneficial after costs.

How to use this calculator step by step. (1) Collect the disbursed principal, nominal annual rate, tenure in months, and any fees that affect APR but sit outside the base EMI fields–for example, for a $100,000 loan at 7.5% over 20 years, your EMI would be $805.59 before add-ons. (2) On the Calculator tab, build the baseline schedule and review the donut chart, balance-over-time curve, and Smart Summary. (3) Test prepayments: an extra $100 per month on that same loan can shave years off the tenor and save thousands in total interest. (4) Open Compare with up to three offers–try $250,000 at 6.8% for 25 years ($1,735.18 EMI) against 7.2% for 20 years ($1,968.37) and let Smart Verdict rank total repayment, not the lowest instalment alone. (5) On Affordability, if gross income is $6,000 and your lender caps the ratio at 35%, the maximum instalment is $2,100; at 7.5% over 30 years that supports roughly $300,000 of borrowing. (6) In Restructure, enter remaining balance after payments made, surcharge, fixed fees, and the new rate–for instance, refinancing $180,000 left after 60 payments at 6.9% with a 1% surcharge and $800 in fees to see net savings and break-even months.

Understanding your results. EMI (equated monthly instalment) is the fixed payment covering interest on the current balance plus scheduled principal–it is the number that must fit your budget each month. Total interest is the sum of every interest portion in the amortisation table; on long tenors it often exceeds the principal you borrowed, which is why rate and contract length matter so much. The amortisation schedule lists each period: instalment, interest, principal, and remaining balance, showing how early payments are interest-heavy and later payments repay capital faster. In Restructure, break-even is the month when cumulative interest saved on the new loan outweighs refinance costs (surcharge plus fixed fees); before that point you are still paying back switching costs, and after it the refinance works in your favour on paper. Smart Summary and Smart Verdict translate these figures into plain language so you can spot the crossover month and the cheapest scenario without reading every row.

Tips to reduce your loan cost. • Make prepayments early in the life of the loan: interest is front-loaded, so extra principal in year one saves more than the same amount in year fifteen. • Negotiate the nominal rate before signing–even a 0.25 point reduction on a $200,000 mortgage adds up over decades. • Compare refinancing when market rates drop by more than about one percentage point, but only after modelling surcharge and fixed fees in Restructure; a lower headline rate is not always net cheaper. • Choose a shorter tenure when you can afford a higher EMI: the instalment rises, but total interest falls because you pay down principal faster and owe interest on a shrinking balance for fewer months.

All calculations run locally in your browser. Nothing is sent to a server and no account is required. Charts (principal vs interest donut, balance over time, compare bars) can be expanded to full-screen modals. Smart Summary and Smart Verdict generate readable commentary from your numbers to highlight interest burden, crossover timing, and the cheapest scenario when comparing offers.

Whether you are evaluating a mortgage, consumer loan, or refinance, start with realistic inputs: use the nominal annual rate from the draft agreement, match the tenure to the contractual term, and add bank fees in Restructure rather than ignoring them. For prepayment, remember that on fixed-instalment loans the scheduled payment usually stays the same; extra payments typically shorten the term and reduce total interest rather than lowering the base instalment unless your contract allows recalculation.

Legally and financially, the figures here are planning estimates based on standard fixed-rate amortisation. They do not replace a binding credit offer, a notarial deed, or advice from a licensed adviser. Real loan agreements may include variable rates, insurance bundled into the instalment, processing fees, early repayment penalties, and clauses that change the effective cost (APR / RRSO). Banks and lenders may apply slightly different rounding rules on the instalment or on each schedule line, so your final offer can differ by a few cents per month even when inputs match. Treat every output as indicative: verify instalments, fees, and early-repayment terms with your bank or a qualified financial adviser before you sign.