Loan Calculator Suite
Plan loan repayments, estimate your borrowing eligibility, and compare financing options instantly.
Loan Parameters
Repayment Summary
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Outstanding Balance |
|---|
How to Use Loan Calculator
- Select the appropriate tab: 'EMI Calculator', 'Loan Affordability', or 'Compare Loans'.
- Under 'EMI Calculator', use the sliders or text fields to enter your Principal Loan Amount, Interest Rate, and Tenure.
- Inspect the circular breakdown chart showing Principal vs Interest, and review the Yearly Amortization Schedule.
- Under 'Loan Affordability', input your gross monthly income, existing EMIs, and FOIR limit to find your maximum eligible loan amount.
- Under 'Compare Loans', enter parameters for two separate loan offers to compare their EMIs and total payable interest side-by-side.
Key Features & Privacy Guarantee
- Three-in-one loan modeling utility (EMI, Affordability, Comparison).
- Clean, interactive sliders and dual input syncing.
- Real-time circular SVG breakdown chart representing principal vs interest weight.
- Complete yearly amortization schedule table showing principal, interest paid, and remaining balance.
- Supports customizable Fixed Obligation to Income Ratio (FOIR) for affordability testing.
- 100% client-side calculation to ensure your financial credentials remain private.
Frequently Asked Questions
What is an Equated Monthly Installment (EMI)?
An EMI is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs consist of both interest and principal payments, where the interest component decreases and the principal component increases over time.
What is FOIR in the Loan Affordability Calculator?
FOIR stands for Fixed Obligation to Income Ratio. It is a metric used by banks to determine loan eligibility. It measures how much of your monthly income is currently spent on fixed expenses like rent and other EMIs. Banks usually prefer a FOIR of 40% to 50%.
How is the Amortization Schedule calculated?
The schedule aggregates monthly installments for each year. Every month, interest is calculated on the remaining loan balance. The rest of the EMI goes towards reducing the principal balance, which in turn reduces the interest charged in the following month.