Borrowing, and what interest really costs
Why is so much of an early EMI interest, and what does paying a loan off sooner actually save?
3 steps · Decisions
The path
Read
Why your EMI is mostly interest at the start
The schedule behind a loan, and why the balance barely moves in the first years.
Calculate
EMI Calculator
Your loan, with the whole amortisation shown rather than a monthly figure alone.
Compare
EMI side by side
Hold the loan steady and vary the tenure. The number to watch is the total interest, not the EMI.
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After this one
Is rent really money down the drain, and how long would you have to stay for buying to win?