Loan assumptions
| Original total interest | — |
|---|---|
| Revised payoff period | — |
| Revised total interest | — |
How This Is Calculated
This calculator computes your EMI using the standard loan amortization formula, then simulates the loan schedule month by month — each EMI first covers the interest accrued on the outstanding balance, with the remainder reducing principal. Adding extra/prepayment amounts reduces the outstanding principal faster, cutting the total interest paid and/or shortening the loan tenure, depending on which strategy you choose.
Frequently Asked Questions
Primary sources & verification — Calculator assumptions
Reviewed: 22 August 2026.
This amortisation tool models contractual cash flows from user inputs; it is not a lender statement. Floating-rate resets, day-count conventions, fees, insurance, part-payment rules and lender-specific re-amortisation can change actual results.
Practical verification checklist
- Match annual/monthly rate convention to loan terms.
- Test prepayment timing and lender charges separately.
- Reconcile final schedule to lender statement before financial decisions.
Primary-source checkpoint
- Income Tax Department — Income Tax Act 2025 transition/returns guidance
- Income-tax Rules, 2026 — notified PDF
Use the controlling statute, notified rule/instrument, official portal and later authoritative treatment for the relevant date. This page remains an educational/professional reference.