Loan Tenure Calculator

This is the EMI calculation the other way round. Instead of fixing the term and finding the instalment, it fixes the instalment and finds the term, which is the more useful question when you know what you can afford each month.

There is a floor below which the loan never clears. If the instalment is less than the first month's interest, the balance grows instead of reducing, however long the loan runs. The calculator reports that rather than returning a very large number.

The final instalment is usually smaller than the rest, because the term rarely works out to a whole number of months.

This is also the quickest way to see the effect of paying a little more each month: raising the instalment slightly often takes a surprising number of months off a long loan.