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Loan prepayment calculator
See what a one-time part payment does to your loan. The EMI stays the same, so the loan finishes earlier and you pay less interest.
- Interest you still pay
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- Interest saved
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- Monthly EMI (unchanged)
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- New remaining tenure
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Loan Reiknivel — learn loans and EMI on your phone
Loan Reiknivel is an Android loan and EMI calculator app for trying out loan amounts, rates and tenures on the go.
How it is calculated
Each month: interest = balance × r, principal repaid = EMI − interest
The calculator first works out the EMI for your outstanding loan and remaining tenure. It then repays the loan month by month twice — once as it stands, and once after the prepayment is knocked off the balance — and compares the interest paid in each case.
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This calculator is an educational illustration only and is not financial advice. It ignores prepayment charges and assumes the rate stays fixed. Check your loan agreement for foreclosure or part-payment fees.