Frequently asked questions
How is the monthly payment calculated?
It uses the standard reducing-balance EMI formula, where each payment covers the interest on the remaining balance plus part of the principal, so the balance falls to zero over the term.
Is my financial data uploaded?
No. Everything is calculated in your browser with nothing uploaded, so your figures stay private.
Does it include fees or insurance?
No. It calculates principal and interest only. Real loans may add processing fees, insurance or taxes, so treat the result as an estimate and check your lender's figures.
Can I enter the term in months?
Yes. Switch between years and months, and the number of payments updates accordingly.
What does the yearly breakdown show?
For each year it shows how much went to principal, how much to interest, and the remaining balance, so you can see how the loan reduces over time.