What does an extra prepayment actually save?

Every extra payment reduces the outstanding principal immediately, so less interest accrues on every future instalment. The tool shows total interest saved and the months shaved off the term, or the lower EMI if you choose to keep the same tenure instead.

What is a moratorium period?

A moratorium (or payment holiday) is a period at the start of the loan where no instalments are due; interest usually still accrues and is added to the principal, which the schedule reflects.

How is a balloon payment handled?

Regular instalments are calculated to amortise only part of the principal, leaving the remaining balance due as one lump sum (the balloon) at the final period.

Can I model a rate that changes partway through the loan?

Yes, Advanced mode has a rate-change schedule where you set a new annual rate from a given period onward, and the EMI recalculates for the remaining balance and term.

Does this work for mortgages as well as personal loans?

Yes, the maths (reducing-balance amortisation) is the same for mortgages, auto loans, personal loans and business loans — only the numbers you enter differ.

ToolMano

Loan & EMI calculator

Loan, mortgage and EMI payments with a full amortisation schedule.

No uploadNo signupWorks offline

Loan amount

Annual interest rate %

Tenure (years)

Instalment (EMI)

$2,417.00

Total interest

$279,957.95

Total cost of loan

$579,957.95

Actual payoff periods

240

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal after down payment, r = rate per period, n = number of periods.

Quick presets

Principal financed

$300,000.00

Down payment

$0.00

Fees

$0.00

Effective annual rate

3.35%

Total prepayments

$0.00

Total payments

$579,957.95

Yearly amortisation summary

Year	Principal	Interest	Prepayment	End balance
1	$6,732.30	$22,271.70	$0.00	$293,267.70
2	$7,254.94	$21,749.06	$0.00	$286,012.76
3	$7,818.17	$21,185.83	$0.00	$278,194.59
4	$8,425.11	$20,578.89	$0.00	$269,769.48
5	$9,079.17	$19,924.83	$0.00	$260,690.31
6	$9,784.01	$19,219.99	$0.00	$250,906.30
7	$10,543.57	$18,460.43	$0.00	$240,362.73
8	$11,362.10	$17,641.90	$0.00	$229,000.63
9	$12,244.16	$16,759.84	$0.00	$216,756.47
10	$13,194.71	$15,809.29	$0.00	$203,561.75
11	$14,219.05	$14,784.95	$0.00	$189,342.70
12	$15,322.91	$13,681.09	$0.00	$174,019.79
13	$16,512.47	$12,491.53	$0.00	$157,507.32
14	$17,794.38	$11,209.62	$0.00	$139,712.95
15	$19,175.80	$9,828.20	$0.00	$120,537.15
16	$20,664.47	$8,339.53	$0.00	$99,872.68
17	$22,268.70	$6,735.30	$0.00	$77,603.98
18	$23,997.48	$5,006.52	$0.00	$53,606.50
19	$25,860.47	$3,143.53	$0.00	$27,746.03
20	$27,746.03	$1,135.92	$0.00	$0.00

Period-by-period schedule (first 24)

#	Date	Payment	Principal	Interest	Prepay	Balance	Rate %
1	1970-02-01	$2,417.00	$542.00	$1,875.00	$0.00	$299,458.00	7.500
2	1970-03-01	$2,417.00	$545.39	$1,871.61	$0.00	$298,912.61	7.500
3	1970-04-01	$2,417.00	$548.80	$1,868.20	$0.00	$298,363.82	7.500
4	1970-05-01	$2,417.00	$552.23	$1,864.77	$0.00	$297,811.59	7.500
5	1970-06-01	$2,417.00	$555.68	$1,861.32	$0.00	$297,255.91	7.500
6	1970-07-01	$2,417.00	$559.15	$1,857.85	$0.00	$296,696.76	7.500
7	1970-08-01	$2,417.00	$562.65	$1,854.35	$0.00	$296,134.12	7.500
8	1970-09-01	$2,417.00	$566.16	$1,850.84	$0.00	$295,567.96	7.500
9	1970-10-01	$2,417.00	$569.70	$1,847.30	$0.00	$294,998.25	7.500
10	1970-11-01	$2,417.00	$573.26	$1,843.74	$0.00	$294,424.99	7.500
11	1970-12-01	$2,417.00	$576.84	$1,840.16	$0.00	$293,848.15	7.500
12	1971-01-01	$2,417.00	$580.45	$1,836.55	$0.00	$293,267.70	7.500
13	1971-02-01	$2,417.00	$584.08	$1,832.92	$0.00	$292,683.62	7.500
14	1971-03-01	$2,417.00	$587.73	$1,829.27	$0.00	$292,095.90	7.500
15	1971-04-01	$2,417.00	$591.40	$1,825.60	$0.00	$291,504.50	7.500
16	1971-05-01	$2,417.00	$595.10	$1,821.90	$0.00	$290,909.40	7.500
17	1971-06-01	$2,417.00	$598.82	$1,818.18	$0.00	$290,310.58	7.500
18	1971-07-01	$2,417.00	$602.56	$1,814.44	$0.00	$289,708.02	7.500
19	1971-08-01	$2,417.00	$606.32	$1,810.68	$0.00	$289,101.70	7.500
20	1971-09-01	$2,417.00	$610.11	$1,806.89	$0.00	$288,491.58	7.500
21	1971-10-01	$2,417.00	$613.93	$1,803.07	$0.00	$287,877.66	7.500
22	1971-11-01	$2,417.00	$617.76	$1,799.24	$0.00	$287,259.89	7.500
23	1971-12-01	$2,417.00	$621.63	$1,795.37	$0.00	$286,638.27	7.500
24	1972-01-01	$2,417.00	$625.51	$1,791.49	$0.00	$286,012.76	7.500

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About loan & emi calculator

Loan & EMI calculator works out the instalment on any loan or mortgage — EMI (equal instalment), interest-only, or bullet repayment — for monthly, fortnightly, weekly, quarterly or annual payments, and builds a full period-by-period amortisation schedule showing principal, interest, balance and cumulative totals.

Model real-world extras: a down payment or trade-in, processing fees, insurance, a balloon payment at the end, a moratorium (payment holiday), a rate-change schedule for step-up or step-down loans, and extra prepayments — one-off, monthly or annual — with a choice of shortening the loan term or lowering the instalment.

Compare two full loan scenarios side by side to see the difference prepaying or choosing a shorter term makes to total interest paid, then export the whole schedule as CSV.

How to use Loan & EMI calculator

1Enter the loan amount, annual interest rate and tenure.
2Choose the repayment type and payment frequency.
3Add any down payment, fees, insurance or extra prepayments in Advanced mode.
4Review the instalment, total interest and the year-by-year amortisation table, then export as CSV.

What it does

EMI, interest-only and bullet repayment types
Monthly, fortnightly, weekly, quarterly or annual payment frequency
Down payment, trade-in, processing fee and insurance inputs
Balloon payment and moratorium (payment holiday) support
Extra prepayments with recalculate-tenure or recalculate-EMI choice
Rate-change schedule for step-up / step-down loans
Full amortisation schedule with yearly grouping
Two-scenario side-by-side comparison
Currency and locale-aware formatting
CSV export of the complete schedule

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