Free loan and savings calculators

How to, step by step

• How much does a loan really cost?

  A loan's cost is its interest over the term. How the Loan calculator works it out, rounds it like a ledger and says it in words first.

• How is EMI calculated? The formula with an example

  The EMI formula, P·r·(1+r)^n / ((1+r)^n − 1), explained with ₹10 lakh at 8.5% over 20 years, and why the last instalment can differ by a few rupees.

• Home loan EMI: how much interest will I pay?

  A home loan's EMI, the interest over 20 years, the choices when the rate changes, and what a part payment saves, ending sooner or paying less.

• How much will a car loan cost me each month?

  Work out a car loan's monthly payment and what the car costs with interest over two to seven years, and why fees change the real rate.

• Personal loan EMI and interest: how much will I pay?

  A personal loan's monthly payment, the interest over its term and the APR with its fees, worked out in your browser and downloadable as a schedule.

• How is a mortgage payment calculated?

  A mortgage's monthly payment, its interest over 30 years, and the month more of each payment goes to the loan than to interest, with an example.

• How much sooner will extra payments pay off my mortgage?

  Extra each month or a lump sum ends a mortgage sooner and saves interest. How the page shows it, beside keeping the end date and paying less.

• What is an amortization schedule and how do I read it?

  Each row of a loan's schedule shows the payment, its interest, its principal and the balance after it. How to read one and download your own.

• Should I reduce my EMI or tenure when prepaying?

  Paying part of a loan early can end it sooner or lower the payment. The two side by side, with the interest each leaves, without choosing for you.

• What is APR, and what does a flat rate really cost?

  An APR counts fees as interest; a flat rate charges interest on the whole loan for the whole term. Both turned into one comparable yearly rate.

• How long will it take to pay off my credit card?

  How long a monthly payment takes to clear a card, the interest it costs, why the minimum can take decades, and the payment that clears it in three years.

• How much will my savings grow?

  Compound interest, monthly amounts, deposits and withdrawals worked out at a rate you choose, with what you put in and what it grew by said apart.

• How does compound interest work, with monthly deposits?

  Compound interest earns interest on interest. How a starting amount and monthly amounts grow, compounded yearly, quarterly, monthly or daily.

• How is SIP maturity calculated?

  A SIP puts the same amount in at the start of each month; a step-up raises it each year. What they come to at a rate you assume, with no forecast.

• How long does it take money to double?

  The rule of 72 says money doubles in about 72 divided by the rate years. How close it is, with the exact figure beside it.

• How is FD interest calculated?

  A fixed deposit grows at the bank's rate compounded quarterly. How its maturity amount and yearly yield are worked out, with tax left out.

• How is RD maturity calculated?

  A recurring deposit takes the same amount each month; each deposit compounds quarterly until the end. How the maturity amount is worked out.