LoanLab

A private loan & EMI calculator — payments, full amortization schedule, and side-by-side scenario comparisons, all on-device.

Amortisation is where a loan stops being one number. Payments are level, but the split is not — interest is charged on the outstanding balance, so early payments are mostly interest and the principal share grows slowly. That is why the total repaid over a long term can approach or exceed the amount borrowed.

It also explains why an overpayment early is worth several times the same overpayment late: it removes principal that would otherwise have accrued interest for the rest of the term. Comparing scenarios side by side is the only way to see that, because the difference is invisible in the monthly figure and enormous in the total.