Question 1

What does a loan repayment calculator show?

Accepted Answer

A loan repayment calculator shows how your loan reduces over time. It explains monthly payments, remaining balance, and how much interest you pay during the full loan period.

Question 2

How is loan repayment different from EMI calculation?

Accepted Answer

EMI calculation focuses only on the monthly amount. Loan repayment calculation explains the full picture, including outstanding balance, interest paid each month, and total borrowing cost.

Question 3

What is an outstanding balance?

Accepted Answer

Outstanding balance is the remaining loan amount after each payment. Every month, this balance reduces as you repay part of the principal along with interest.

Question 4

How does early repayment affect my loan?

Accepted Answer

Early repayment reduces the outstanding balance faster. This lowers total interest payable and can shorten the loan tenure. It helps reduce overall borrowing cost.

Question 5

What is an amortisation schedule?

Accepted Answer

An amortisation schedule shows a month-by-month breakdown of your loan. It includes interest paid, principal paid, and remaining balance after each payment.

Question 6

Why should I use a loan repayment calculator?

Accepted Answer

A loan repayment calculator supports better financial planning and debt management. It helps you understand long-term impact, plan repayments smartly, and avoid surprises during the loan period.

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