What it does

Computes EMI for Indian home, car, and personal loans, then simulates the schedule month-by-month so dated prepayments and mid-loan rate revisions land where they actually do — not at the end-of-year approximations most online calculators give.

How the simulation works

• Month-by-month walk — interest accrues on the opening balance, the EMI's principal portion shaves the balance, then any prepayment scheduled in that month is applied.
• Prepayment strategy — either the EMI stays put and the loan closes earlier (Reduce tenure), or the EMI is recomputed for the remaining tenure (Reduce EMI).
• Rate-change strategy — when the rate revises mid-loan, either the tenure stays put and the EMI is recomputed (Keep tenure), or the EMI stays put and the tenure naturally adjusts (Keep EMI).
• Cut-tenure planner — for each delta (1 / 2 / 4 / 6 / 8 / 10 years) we binary-search the extra payment that closes the loan at the target tenure.

Defaults

Most Indian banks default to reduce-tenure for prepayments and keep-tenure for rate revisions — that's the default here too. Switch in the strategy toggles when the bank's actual policy differs.

Not modelled (yet)

• Tax benefits — Section 24 home-loan interest deduction (₹2 L cap), 80C principal repayment.
• Step-up / step-down repayment plans, partial-prepayment penalties.
• Loan-against-property, education loan, business loan presets.
• Processing fees, GST on interest, late-payment charges.

Privacy

Inputs are persisted in your browser's localStorage so your loan configuration survives a refresh. Nothing is sent to any server — every figure is computed locally.