How This Advanced EMI Calculator Works
This professional loan calculator uses the standard amortization formula enhanced with extra payment calculations and multiple payment frequency options. Enter your loan amount (minus down payment), interest rate, and term to get detailed breakdowns including monthly EMI, total interest, and complete amortization schedules showing every payment over the life of your loan.
Advanced Features
- Extra Payments: See how additional monthly payments drastically reduce interest and payoff time
- Down Payment Calculator: Understand how your down payment affects monthly payments
- Multiple Loan Types: Pre-configured presets for mortgages, auto, personal, and student loans
- Payment Frequencies: Compare monthly, bi-weekly, and weekly payment options
- Full Amortization: Month-by-month breakdown showing principal vs interest for every payment
- Instant Calculations: All processing happens locally in your browser for complete privacy
Understanding Loan Types
🏠 Mortgages (3.5-7%)
15-30 year terms for home purchases. Lower rates, longer repayment periods.
🚗 Auto Loans (4-8%)
3-7 year terms for vehicle financing. Moderate rates, medium-term repayment.
💳 Personal Loans (8-15%)
1-7 year terms for various expenses. Higher rates, flexible terms.
🎓 Student Loans (3-6%)
10-25 year terms for education. Low rates, extended repayment options.