EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments. The EMI stays fixed each month, but the interest portion falls and the principal portion rises over the loan term.
A ₹25,00,000 home loan at 8.5% annual interest for 20 years (240 months) gives an EMI of ₹21,696/month. Total payment over the loan is ₹52,06,939, of which ₹27,06,939 is interest.
A ₹5,000 monthly SIP at 12% annual return for 10 years (120 months) grows to about ₹11,61,695: ₹6,00,000 invested plus ₹5,61,695 in estimated returns.
A ₹1,00,000 fixed deposit at 7% annual interest, compounded quarterly, matures to about ₹1,41,478 in 5 years – ₹41,478 interest.
A ₹5,000 monthly RD at 7% annual interest (compounded quarterly) for 24 months matures to about ₹1,29,099 – ₹1,20,000 deposited plus ₹9,099 interest.
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EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is the monthly interest rate, and n is the number of months. All EMI, SIP, FD and RD math runs offline in the app.
Home loan EMI uses the same reducing-balance formula as any loan: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), with the annual rate divided by 12 for the monthly rate r.
A ₹25,00,000 loan at 8.5% for 20 years (240 months) works out to an EMI of ₹21,696 per month, with total interest of ₹27,06,939 over the loan.
A part-prepayment reduces the outstanding principal. Most Indian lenders keep the EMI the same and shorten the tenure, though some let you choose to lower the EMI instead and keep the tenure.
It compounds a fixed monthly investment at an assumed annual return. ₹5,000/month at 12% for 10 years grows to about ₹11,61,695 – ₹6,00,000 invested plus ₹5,61,695 in returns.
Banks apply the annual rate divided into four quarterly instalments: A = P × (1 + r/4)^(4t). A ₹1,00,000 FD at 7% for 5 years matures to about ₹1,41,478.
Recurring deposit maturity is M = R × [(1+i)^n − 1] ÷ (1 − (1+i)^(−1/3)), where R is the monthly deposit, i is the quarterly rate, and n is the number of quarters.
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