How does part payment affect my loan EMI?

Part payments reduce your outstanding principal. You can choose to either reduce your monthly EMI while keeping the tenure same, or keep the EMI same and significantly reduce the loan tenure, saving thousands in interest.

Can I compare multiple bank loans side-by-side?

Yes! Our calculator lets you enter details for two banks independently and compares them line-by-line including EMI, total interest, processing fees, GST, and month-by-month amortization schedules.

Is this calculator accurate for Indian loans?

Absolutely. It uses the standard reducing balance method used by Indian banks, supports Lakh/Crore formatting, includes processing fees & GST calculations, and handles part payments accurately.

Advanced Loan EMI Calculator | Compare Banks, Part Payments & Savings

Loan Type

Loan Amount (₹)

Interest Rate (% p.a.)

Tenure (Years)

Processing Fee (%)

GST on Fees (%)

Part Payment Amount (₹)

After Month

Part Payment Mode

Reduce Tenure Reduce EMI

⚖️ Side-by-Side Bank Comparison

🏦 Bank 1 Details

Bank Name

Loan Amount (₹)

Interest Rate (%)

Tenure (Years)

Processing Fee (%)

GST (%)

Part Payment (₹)

After Month

Mode

Tenure EMI

🏦 Bank 2 Details

Bank Name

Loan Amount (₹)

Interest Rate (%)

Tenure (Years)

Processing Fee (%)

GST (%)

Part Payment (₹)

After Month

Mode

Tenure EMI

❓ Frequently Asked Questions

How is EMI calculated? ▼

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1] where P = Principal, R = Monthly Interest Rate, N = Number of months. This uses the standard reducing balance method accepted by all Indian banks.

What happens when I make a part payment? ▼

Part payments directly reduce your outstanding principal. You can choose to either keep your EMI same and drastically reduce tenure (saving maximum interest), or reduce your monthly EMI while keeping tenure unchanged.

How does bank comparison work? ▼

Enter independent details for two banks including amounts, rates, tenure, fees, and part-payment preferences. Click compare to see side-by-side EMI, total interest, fees, and a synchronized month-by-month amortization table.

Is my data safe? ▼

Yes! This calculator runs 100% in your browser. No data is sent to any server. Your calculations remain completely private and secure.

Monthly EMI

Total Interest

Total Payment

Fees + GST

💰 Part Payment Savings

⚖️ Side-by-Side Bank Comparison

🏦 Bank 1 Details

🏦 Bank 2 Details

Bank 1

Bank 2

Interest

Interest

Total Cost

Total Cost

Part Payment

Part Payment

📊 Month-by-Month Comparison

❓ Frequently Asked Questions