EMI Calculator

On a reducing-balance basis, the method Indian lenders use — interest each month is charged on the outstanding principal, not the original amount.

Yes. The amortisation table breaks every instalment into its interest and principal components with the closing balance.

Close, but lenders add processing fees, insurance and sometimes a different day-count convention. Treat this as the base figure before charges.

Prepayment reduces the outstanding principal, so either the tenure shortens or the EMI falls, depending on what the lender allows. This models the base schedule.

The arithmetic is the same. What differs is the rate, and that interest on a business loan is generally deductible as a business expense.