How it works

Reducing Balance (EMI) — the standard for most mortgages, auto loans, and personal loans. Interest is charged only on the outstanding balance, recalculated monthly.
Flat Rate — interest is charged on the full original principal for the entire tenure, even as you pay it down. For the same stated rate, this always costs more than reducing balance.
Simple Interest (Interest-Only) — you pay interest monthly, with the full principal due as a lump sum at the end of the term.
Compound Interest (Bullet) — no payments during the term at all; interest compounds monthly and the entire balance (principal + accumulated interest) is due as one lump sum at maturity.
Daily Reducing Balance — like standard EMI, but interest accrues daily rather than monthly, which compounds slightly more often and typically results in marginally higher total interest for the same nominal rate.
The comparison box tells you which side costs more overall, by how much, and names the interest type responsible — that same summary is included when you print or save as PDF.
All calculations happen locally in your browser — nothing is sent anywhere.