Getting Started: Your First Calculation
Begin by entering your loan details into the form on the left. This includes the total loan amount, the annual interest rate, the date your loan started, and the original tenure in either years or months.
Mastering Prepayments
The prepayment section allows you to see how extra payments can impact your loan. You can set a prepayment amount and choose a frequency: one-time, monthly, or yearly. You can also add an annual percentage increase to your prepayments to accelerate your loan payoff.
Choose whether you want the prepayment to reduce your loan tenure or reduce your monthly EMI.
Pay Loan or Invest?
This powerful feature helps you decide whether it's better to prepay your loan or invest the extra cash. Enter an expected annual return on investment (ROI), and the calculator will show you the potential final value of your investment portfolio versus the interest you'd save by prepaying.
Visualizing Your Journey
The calculator includes several graphs to help you visualize your financial journey. You can see a comparison of your loan balance with and without prepayments, and view detailed breakdowns of principal versus interest paid for both the original and the prepaid loan scenarios.
Advanced Features
For more granular control, you can use the Bulk Update feature to apply multiple prepayments over a specific period. The Payoff Table provides a detailed, month-by-month breakdown of your loan, and you can even edit individual prepayment amounts directly in the table.