Loan Calculator | AgeCalc Pro

Guide: How It Works

Uses the same EMI formula: EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1)

Important Notes

This uses the reducing-balance method, the standard approach for bank and NBFC loans
A larger portion of early payments goes toward interest, with the principal share increasing over time
A longer tenure lowers the monthly payment but increases total interest paid

Who Is This Calculator For?

Home and car loan borrowers
Personal loan applicants
Anyone comparing loan offers

Examples

₹1,000,000 at 8% annual for 60 months: r=0.00667, EMI ≈ ₹20,276/month.

Frequently Asked Questions

How is this different from the EMI Calculator?

Same underlying formula and amortization logic, framed around general loan planning rather than EMI-specific terminology.

Does it account for processing fees?

No, the calculation is based purely on principal, rate, and tenure.

About the Author

This tool is built and maintained by John Britto, a Full-Stack Developer with over 5 years of experience building secure web applications. Our mission is to provide free, private, and reliable tools for everyone.

💳 Loan Calculator