Loan Calculator

Loan Calculator (INR)

Loan Calculator (INR)

Calculate your monthly loan payments, total interest, and repayment schedule in Indian Rupees.

Tip: Adjust loan amount, term, and interest rate to compare different scenarios.

How It Works

Loan Calculation Formula

The monthly payment (M) is calculated using:

M = P × (r(1+r)^n) / ((1+r)^n - 1)

Where:

  • P = Loan amount (₹)
  • r = Monthly interest rate (annual rate ÷ 12)
  • n = Number of payments (term in years × 12)
Tip: Lower interest rates and shorter terms reduce total interest paid.

Loan Tips for India

Getting the Best Loan
  • Compare rates across banks and NBFCs
  • Check for prepayment penalties before taking loan
  • Negotiate processing fees with your bank
  • Consider loan insurance for protection
  • Maintain good CIBIL score (750+) for better rates

Common Loan Terms

EMI: Equated Monthly Installment

CIBIL Score: Credit score used by Indian lenders

Prepayment: Paying loan before term ends

Processing Fee: One-time charge for loan approval

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