Loan Planning Tools
Go beyond a basic EMI number — these tools help you optimize your repayment strategy, whether that's paying off a single loan faster, understanding what a "flat rate" loan really costs, or deciding which order to tackle multiple debts in.
Loan Prepayment Calculator
See how much interest you save by paying extra toward your loan each month.
Calculate →Flat vs Reducing Rate Calculator
The same stated rate costs very differently depending on how it's calculated.
Calculate →Debt Payoff Calculator
Compare the snowball and avalanche methods to find your fastest, cheapest way out of debt.
Calculate →An EMI calculator shows you the amount of your monthly payments. Meanwhile, three other tools — a loan prepayment calculator, a flat vs reducing rate comparison, and a debt payoff calculator — help you go a step further and figure out whether your overall repayment approach is actually the smartest one available. Each involves decisions that can add real cost or, conversely, generate substantial savings over the life of a loan; yet they’re often overlooked.
The Tools
- Loan Prepayment Calculator: shows the total interest saved through extra payments, as well as the time saved on the repayment term.
- Flat vs Reducing Rate Calculator: compares these two interest calculation methods. The same nominal rate can result in vastly different costs depending on the method applied.
- Debt Payoff Calculator: compares the snowball and avalanche methods across multiple debts, showing the total interest cost and payoff order for each so you can decide which strategy fits you.
Why These Tools Matter
Prepayment works because interest is calculated based on the outstanding principal. An extra payment made early on reduces the outstanding principal for every subsequent month; thus, a modest additional payment made in the first year yields greater savings than the same amount paid in the tenth year.
The distinction between a flat rate and a calculation based on outstanding principal is crucial, as lenders use both variants: a seemingly low flat rate is not necessarily more advantageous. With a flat rate, interest is calculated on the initial loan amount for the entire duration of the credit, regardless of the amount already repaid. The actual cost can end up being nearly double the advertised rate.
The order you pay off multiple debts in matters just as much as how much extra you pay each month. Two people paying the exact same total every month, but targeting their debts in a different order, can end up paying noticeably different amounts in total interest, simply because of which balance gets the extra payment first.