Loan Comparison and EMI Payment Calculator

Purpose of the template

This template calculates 1) EMI 2) Total Interest paid during the duration of the loan 3) Last Payment Month and 4) Number of Payments.
It also allows you to compare three different loan scenarios based on their EMI, Interest, Last Payment Month and Number of Payments.
For example, you can compare loans from three different banks if they have different interest rates or loan period.

Created by

www.indzara.blogspot.com

Enter information on the loans. Enter pre-payment details if you are planning to pre-pay the loan.

Compare EMI, total interest, Last Payment Month and Number of Payments.

Summary
Starting Month (MMM-YYYY)

Apr-2013

Scenario 1
6608

EMI

Scenario 1
Loan Amount
Loan Period (Years)
Interest Rate (%)

Scenario 2
500000
10
10.00%

Pre-payments (optional)
Pre-Payment Amount
Month

Loan Amount
Loan Period (Years)
Interest Rate (%)

Scenario 3
500000
10
11.00%

Pre-payments (optional)
Pre-Payment Amount
Month

Loan Amount
Loan Period (Years)
Interest Rate (%)

500000
10
11.00%

Pre-payments (optional)
Pre-Payment Amount
Month
20000
Jun-2013
20000
Aug-2013
20000
Oct-2013
20000
Dec-2013
20000
Aug-2014
20000
Oct-2014
20000
Dec-2014

Total Interest
Total Amount (Principal + Interest)
Last Payment Month
Number of Payments

292904
792904
4/1/2023
120

Scenario 2
6888

Scenario 3
6888

326499
826499
4/1/2023
120

157093
657093
8/1/2019
76

Total Interest

350000
300000
250000
200000
150000

292904

326499

100000

157093

50000
0

Scenario 1
Instructions
Only cells in the Tan colour need input. Please do not change any of the other cells, as they have formulas.
Please enter only one pre-payment in a month.
Dates for pre payments and Loan Starting Month should be the first day of the month. Otherwise the calculator will not calculate correctly.
This template is ready to be printed. There will be 7 pages when you print. First one is this page and the remaining six gives the detailed amortization schedule
for the three scenarios.

Scenario 2

Scenario 3

EMI

8000
7000
6000
5000
4000

Assumptions / Settings
Assumes monthly loan payments.
EMI (Equated Monthly Installment) calculation is for the end of the period. In the example above, loan begins on June 1, 2013. First payment is due on July 1,
2013 (end of first period).
All payment dates are on the first day of each month.
EMI is rounded up to the nearest paisa (2 digits).
Assuming no penalty for pre-payments.
Pre-payments (also called as extra payments) can happen any time during the loan tenure.

3000

6608

6888

6888

Scenario 1

Scenario 2

Scenario 3

2000
1000
0

This template should be used just for loan comparison so that you may choose the most appopriate loan scenario. Please use the actual schedule from your financial provider for actual payment details and due dates.

Loan Comparison and Payment Calculator

www.indzara.blogspot.com

Created by indzara

Loan Payment and Amortization Schedule

0
1
2

DATE
01-Apr-13
01-May-13
01-Jun-13

3
4
5

01-Jul-13
01-Aug-13
01-Sep-13

EMI
Interest Paid

Scenario 1
6608
Pre-Payment
Principal paid

4167
4146

0
0

2441
2461

New Balance
500000
497559
495098

4126
4105
4084

0
0
0

2482
2502
2523

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2544
2565
2587
2608
2630
2652
2674
2696
2719
2742
2764
2787
2811
2834
2858
2882
2906
2930
2954
2979
3004
3029
3054
3079
3105
3131
3157
3183
3210
3237
3264
3291
3318
3346
3374
3402
3430
3459
3488
3517
3546
3575
3605
3635
3666
3696
3727
3758
3789
3821

6
01-Oct-13
4063
7
01-Nov-13
4042
8
01-Dec-13
4021
9
01-Jan-14
3999
10
01-Feb-14
3977
11
01-Mar-14
3955
12
01-Apr-14
3933
13 01-May-14
3911
14
01-Jun-14
3889
15
01-Jul-14
3866
16
01-Aug-14
3843
17
01-Sep-14
3820
18
01-Oct-14
3797
19
01-Nov-14
3773
20
01-Dec-14
3750
21
01-Jan-15
3726
22
01-Feb-15
3702
23
01-Mar-15
3678
24
01-Apr-15
3653
25 01-May-15
3629
26
01-Jun-15
3604
27
01-Jul-15
3579
28
01-Aug-15
3554
29
01-Sep-15
3528
30
01-Oct-15
3503
31
01-Nov-15
3477
32
01-Dec-15
3451
33
01-Jan-16
3424
34
01-Feb-16
3398
35
01-Mar-16
3371
36
01-Apr-16
3344
37 01-May-16
3317
38
01-Jun-16
3289
39
01-Jul-16
3262
40
01-Aug-16
3234
41
01-Sep-16
3206
42
01-Oct-16
3177
43
01-Nov-16
3149
44
01-Dec-16
3120
45
01-Jan-17
3091
46
01-Feb-17
3062
47
01-Mar-17
3032
48
01-Apr-17
3002
49 01-May-17
2972
50
01-Jun-17
2942
51
01-Jul-17
2911
52
01-Aug-17
2881
53
01-Sep-17
2850
54
01-Oct-17
2818
55Comparison
01-Nov-17
2787
Loan
and Payment
Calculator

EMI
Interest Paid

Scenario 2
6888
Pre-Payment
Principal Paid

4583
4562

0
0

2304
2325

New Balance
500000
497696
495371

492616
490114
487591

4541
4519
4498

0
0
0

2347
2368
2390

485046
482481
479894
477285
474655
472003
469329
466633
463914
461172
458408
455620
452809
449975
447118
444236
441330
438401
435446
432468
429464
426435
423381
420302
417197
414066
410909
407726
404516
401279
398016
394725
391407
388061
384687
381286
377855
374397
370909
367393
363847
360271
356666
353031
349365
345669
341942
338184
334394
330573

4476
4454
4431
4409
4386
4363
4340
4317
4293
4269
4245
4221
4197
4172
4147
4122
4097
4071
4045
4019
3993
3966
3940
3913
3885
3858
3830
3802
3774
3745
3716
3687
3658
3628
3598
3568
3538
3507
3476
3445
3413
3382
3349
3317
3284
3251
3218
3184
3150
3116

0
2412
0
2434
0
2456
0
2479
0
2501
0
2524
0
2547
0
2571
0
2594
0
2618
0
2642
0
2666
0
2691
0
2715
0
2740
0
2766
0
2791
0
2816
0
2842
0
2868
0
2895
0
2921
0
2948
0
2975
0
3002
0
3030
0
3057
0
3086
0
3114
0
3142
0
3171
0
3200
0
3230
0
3259
0
3289
0
3319
0
3350
0
3380
0
3411
0
3443
0
3474
0
3506
0
3538
0
3571
0
3603
0
3636
0
3670
0
3703
0
3737
0
3771
www.indzara.blogspot.com

EMI
Interest Paid

Scenario 3
6888
Pre-Payment
Principal Paid

4583
4562

0
20000

2304
22325

New Balance
500000
497696
475371

493024
490656
488266

4358
4334
4128

0
20000
0

2530
22553
2760

472841
450287
447528

485854
483420
480964
478486
475984
473460
470912
468342
465747
463129
460487
457820
455130
452414
449674
446908
444117
441301
438459
435590
432696
429775
426827
423852
420850
417820
414762
411677
408563
405421
402250
399049
395820
392561
389272
385952
382603
379223
375811
372369
368895
365389
361850
358280
354677
351040
347371
343667
339930
336159

4102
3893
3866
3655
3625
3595
3565
3535
3504
3473
3442
3227
3193
2976
2940
2721
2683
2644
2605
2566
2526
2486
2446
2405
2364
2323
2281
2239
2196
2153
2110
2066
2022
1977
1932
1887
1841
1794
1748
1701
1653
1605
1557
1508
1458
1409
1358
1308
1257
1205

20000
0
20000
0
0
0
0
0
0
0
20000
0
20000
0
20000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

22785
2994
23021
3233
3262
3292
3322
3353
3383
3414
23446
3661
23694
3911
23947
4167
4205
4244
4282
4322
4361
4401
4442
4482
4523
4565
4607
4649
4692
4735
4778
4822
4866
4911
4956
5001
5047
5093
5140
5187
5234
5282
5331
5380
5429
5479
5529
5580
5631
5682

424742
421748
398727
395494
392232
388940
385618
382265
378882
375467
352022
348361
324667
320755
296808
292641
288436
284193
279911
275589
271228
266826
262385
257902
253379
248814
244207
239559
234867
230132
225354
220533
215667
210756
205801
200800
195753
190660
185520
180333
175098
169816
164485
159105
153676
148198
142669
137089
131458
125775 Created by indzara

56
01-Dec-17
2755
57
01-Jan-18
2723
58
01-Feb-18
2690
59
01-Mar-18
2658
60
01-Apr-18
2625
61 01-May-18
2592
62
01-Jun-18
2558
63
01-Jul-18
2524
64
01-Aug-18
2490
65
01-Sep-18
2456
66
01-Oct-18
2421
67
01-Nov-18
2387
68
01-Dec-18
2351
69
01-Jan-19
2316
70
01-Feb-19
2280
71
01-Mar-19
2244
72
01-Apr-19
2208
73 01-May-19
2171
74
01-Jun-19
2134
75
01-Jul-19
2097
76
01-Aug-19
2059
77
01-Sep-19
2021
78
01-Oct-19
1983
79
01-Nov-19
1945
80
01-Dec-19
1906
81
01-Jan-20
1866
82
01-Feb-20
1827
83
01-Mar-20
1787
84
01-Apr-20
1747
85 01-May-20
1706
86
01-Jun-20
1666
87
01-Jul-20
1624
88
01-Aug-20
1583
89
01-Sep-20
1541
90
01-Oct-20
1499
91
01-Nov-20
1456
92
01-Dec-20
1413
93
01-Jan-21
1370
94
01-Feb-21
1326
95
01-Mar-21
1282
96
01-Apr-21
1238
97 01-May-21
1193
98
01-Jun-21
1148
99
01-Jul-21
1103
100
01-Aug-21
1057
101
01-Sep-21
1011
102
01-Oct-21
964
103
01-Nov-21
917
104
01-Dec-21
869
105
01-Jan-22
822
106
01-Feb-22
773
107
01-Mar-22
725
108
01-Apr-22
676
109 01-May-22
626
110
01-Jun-22
576
111
01-Jul-22
526
112
01-Aug-22
476
113
01-Sep-22
424
114
01-Oct-22
373
115
01-Nov-22
321
116
01-Dec-22
269
117
01-Jan-23
216
118
01-Feb-23
162
Loan Comparison and Payment Calculator

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

3853
3885
3917
3950
3983
4016
4049
4083
4117
4152
4186
4221
4256
4292
4327
4363
4400
4437
4473
4511
4548
4586
4624
4663
4702
4741
4781
4820
4861
4901
4942
4983
5025
5067
5109
5151
5194
5238
5281
5325
5370
5414
5459
5505
5551
5597
5644
5691
5738
5786
5834
5883
5932
5981
6031
6081
6132
6183
6235
6287
6339
6392
6445

326721
322836
318919
314969
310986
306970
302920
298837
294720
290568
286382
282161
277905
273613
269286
264923
260523
256086
251613
247102
242554
237967
233343
228680
223978
219237
214456
209636
204775
199874
194932
189949
184925
179858
174749
169598
164404
159166
153885
148560
143191
137776
132317
126812
121261
115664
110020
104330
98592
92806
86972
81089
75157
69176
63145
57063
50931
44748
38514
32227
25888
19496
13051

3081
3047
3011
2976
2940
2904
2867
2830
2793
2756
2718
2680
2641
2602
2563
2523
2483
2443
2402
2361
2319
2278
2235
2193
2150
2106
2062
2018
1973
1928
1883
1837
1791
1744
1697
1649
1601
1553
1504
1455
1405
1355
1304
1253
1201
1149
1096
1043
990
936
881
826
770
714
658
601
543
485
426
367
307
247
186

0
3806
0
3841
0
3876
0
3912
0
3948
0
3984
0
4020
0
4057
0
4094
0
4132
0
4170
0
4208
0
4246
0
4285
0
4325
0
4364
0
4404
0
4445
0
4485
0
4527
0
4568
0
4610
0
4652
0
4695
0
4738
0
4781
0
4825
0
4869
0
4914
0
4959
0
5005
0
5050
0
5097
0
5143
0
5191
0
5238
0
5286
0
5335
0
5384
0
5433
0
5483
0
5533
0
5584
0
5635
0
5686
0
5739
0
5791
0
5844
0
5898
0
5952
0
6006
0
6062
0
6117
0
6173
0
6230
0
6287
0
6344
0
6403
0
6461
0
6521
0
6580
0
6641
0
6702
www.indzara.blogspot.com

332353
328512
324636
320724
316776
312793
308772
304715
300621
296489
292319
288112
283865
279580
275255
270891
266486
262042
257556
253029
248461
243851
239199
234504
229767
224985
220160
215291
210377
205418
200413
195363
190266
185123
179932
174694
169408
164073
158690
153257
147774
142241
136658
131023
125336
119598
113807
107962
102064
96112
90106
84044
77927
71754
65524
59238
52893
46490
40029
33508
26928
20287
13586

1153
1100
1047
994
940
885
830
775
719
662
605
547
489
431
372
312
251
191
129
67
5

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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0
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0
0
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0
0
0
0
0
0
0
0
0

5735
5787
5840
5894
5948
6002
6057
6113
6169
6225
6282
6340
6398
6457
6516
6576
6636
6697
6758
6820
525

120041
114254
108414
102520
96572
90570
84513
78400
72231
66005
59723
53383
46985
40528
34012
27436
20800
14103
7345
525
0

Created by indzara

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121 01-May-23
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127
01-Nov-23
128
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129
01-Jan-24
130
01-Feb-24
131
01-Mar-24
132
01-Apr-24
133 01-May-24
134
01-Jun-24
135
01-Jul-24
136
01-Aug-24
137
01-Sep-24
138
01-Oct-24
139
01-Nov-24
140
01-Dec-24
141
01-Jan-25
142
01-Feb-25
143
01-Mar-25
144
01-Apr-25
145 01-May-25
146
01-Jun-25
147
01-Jul-25
148
01-Aug-25
149
01-Sep-25
150
01-Oct-25
151
01-Nov-25
152
01-Dec-25
153
01-Jan-26
154
01-Feb-26
155
01-Mar-26
156
01-Apr-26
157 01-May-26
158
01-Jun-26
159
01-Jul-26
160
01-Aug-26
161
01-Sep-26
162
01-Oct-26
163
01-Nov-26
164
01-Dec-26
165
01-Jan-27
166
01-Feb-27
167
01-Mar-27
168
01-Apr-27
169 01-May-27
170
01-Jun-27
171
01-Jul-27
172
01-Aug-27
173
01-Sep-27
174
01-Oct-27
175
01-Nov-27
176
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01-Feb-28
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01-Mar-28
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01-Apr-28
181 01-May-28
Loan Comparison and Payment Calculator

0
0
0
0
0
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0
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6499
6552

6552
0

125
63

0
6763
0
6823
0
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