WeVividWeVividWork out payments for any general loan.
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | ₹1,48,785 | ₹47,647 | ₹3,51,215 |
| 2 | ₹1,66,003 | ₹30,430 | ₹1,85,212 |
| 3 | ₹1,85,212 | ₹11,220 | ₹0 |
Using the standard reducing-balance formula: payment = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months. Each month, interest is charged only on what's still outstanding.
Yes — this works for any fixed-rate loan with equal monthly payments, whether it's personal, business or general-purpose. For loans tied to a specific asset, see the dedicated home loan, mortgage or auto loan calculators.
With a 0% rate, the monthly payment is simply the loan amount divided evenly across the tenure in months.