Question 1

How do I calculate my loan EMI?

Accepted Answer

Enter your loan amount, annual interest rate, and tenure in months into the Calculator tab. The EMI is computed instantly using the reducing-balance formula: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is principal, r is the monthly rate, and n is the number of months.

Question 2

Can I compare two loan offers side by side?

Accepted Answer

Yes. Switch to the Compare tab, add up to three scenarios, and set different principals, rates, or tenures for each. The tool shows EMI, total interest, and total repayment for every scenario simultaneously so you can identify the cheapest option.

Question 3

How much can I save with loan prepayments?

Accepted Answer

Prepayments reduce your outstanding principal directly, cutting interest on every future payment. Use the Prepayment Simulator in the Calculator tab to enter an extra monthly amount and see the exact interest saved and months removed from your tenure.

Question 4

How do I check how much loan I can afford?

Accepted Answer

Open the Affordability tab, enter your monthly income, and set your preferred EMI-to-income ratio (e.g. 40%). The calculator instantly shows the maximum loan amount you can borrow at any given rate and tenure without exceeding that ratio.

Loan Details

Prepayment

Principal vs Interest

Balance Over Time

Smart Loan Analyzer — Free EMI Calculator

Loan Details

Prepayment

Principal vs Interest

Balance Over Time