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Loan Repayment & Extra Repayment Calculator

Calculate your monthly EMI, extra repayment savings, and complete amortization schedule.

Loan Inputs
KES
%
Months
KES
Amortization Summary
Monthly EMI
KES 18,793.32
Actual Tenure
31 Months
Total Interest
KES 194,122.22
Interest Saved
KES 36,272.46
Payment Schedule Breakdown (31 Months)
Month Scheduled EMI Extra Pay Principal Interest Remaining Balance
m-1 34,177.63 +5,000.00 22,510.96 11,666.67 972,489.04
m-2 34,177.63 +5,000.00 22,831.92 11,345.71 944,657.12
m-3 34,177.63 +5,000.00 23,156.63 11,021.00 916,500.49
m-4 34,177.63 +5,000.00 23,485.12 10,692.51 888,015.37
m-5 34,177.63 +5,000.00 23,817.45 10,360.18 859,197.92
m-6 34,177.63 +5,000.00 24,153.65 10,023.98 830,044.27
m-7 34,177.63 +5,000.00 24,493.78 9,683.85 800,550.49
m-8 34,177.63 +5,000.00 24,837.87 9,339.76 770,712.62
m-9 34,177.63 +5,000.00 25,185.98 8,991.65 740,526.64
m-10 34,177.63 +5,000.00 25,538.15 8,639.48 709,988.49
m-11 34,177.63 +5,000.00 25,894.43 8,283.20 679,094.06
m-12 34,177.63 +5,000.00 26,254.87 7,922.76 647,839.19
m-13 34,177.63 +5,000.00 26,619.51 7,558.12 616,219.68
m-14 34,177.63 +5,000.00 26,988.40 7,189.23 584,231.28
m-15 34,177.63 +5,000.00 27,361.60 6,816.03 551,869.68
m-16 34,177.63 +5,000.00 27,739.15 6,438.48 519,130.53
m-17 34,177.63 +5,000.00 28,121.11 6,056.52 486,009.42
m-18 34,177.63 +5,000.00 28,507.52 5,670.11 452,501.90
m-19 34,177.63 +5,000.00 28,898.44 5,279.19 418,603.46
m-20 34,177.63 +5,000.00 29,293.92 4,883.71 384,309.54
m-21 34,177.63 +5,000.00 29,694.02 4,483.61 349,615.52
m-22 34,177.63 +5,000.00 30,098.78 4,078.85 314,516.74
m-23 34,177.63 +5,000.00 30,508.27 3,669.36 279,008.47
m-24 34,177.63 +5,000.00 30,922.53 3,255.10 243,085.94
m-25 34,177.63 +5,000.00 31,341.63 2,836.00 206,744.31
m-26 34,177.63 +5,000.00 31,765.61 2,412.02 169,978.70
m-27 34,177.63 +5,000.00 32,194.55 1,983.08 132,784.15
m-28 34,177.63 +5,000.00 32,628.48 1,549.15 95,155.67
m-29 34,177.63 +5,000.00 33,067.48 1,110.15 57,088.19
m-30 34,177.63 +5,000.00 33,511.60 666.03 18,576.59
m-31 18,793.32 +0.00 18,576.59 216.73 0.00

FAQ

Frequently Asked Questions

Understanding your loan repayments doesn’t have to be complicated. Our Loan Repayment Calculator helps you accurately estimate your Equated Monthly Installments (EMI), total interest payable, and amortization schedules across personal, mortgage, business, and asset financing loans.

Plan your finances better, compare interest rates, and discover how making extra lump-sum or monthly repayments can significantly shorten your loan tenure and save you money in interest charges.

How is a monthly loan EMI calculated?

Loan monthly installments (EMI) are calculated using the reducing balance formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate, and N is the tenure in months.

How do extra monthly payments affect my overall loan cost?

Making extra principal repayments reduces your outstanding principal faster. Because interest is charged on the remaining principal, extra payments directly lower your total interest cost and shorten your actual loan payoff duration.

What is the difference between Flat Rate and Reducing Balance Interest?

A Flat Rate charges interest on the total original principal throughout the loan tenure. A Reducing Balance Rate calculates interest only on the remaining loan principal each month, making reducing balance options significantly cheaper overall.

What is a Loan Amortization Schedule?

A loan amortization schedule is a month-by-month table detailing each payment. It shows the breakdown between how much goes toward paying down the principal balance versus how much goes toward interest charges.

Does choosing a longer loan tenure save money?

A longer tenure lowers your monthly installment (EMI), making payments more manageable. However, interest accrues over a longer timeframe, meaning you will pay significantly more in total interest compared to a shorter tenure.

What other hidden costs should I consider when applying for a loan?

Beyond interest rates, consider initial bank processing fees, facility negotiation fees, mandatory credit life insurance, legal fees, valuation charges, and potential early settlement penalties.

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