About LoanReveal

Banks are good at telling you your EMI. They are less keen to tell you how much you would save by prepaying, by shortening your tenure instead of your EMI, or by switching to another lender. LoanReveal exists to answer those questions with clear numbers, for free, without asking who you are.

Every tool is built around one real borrower decision and ends with a plain verdict, not just a table of numbers.

Who runs LoanReveal

Advik Enterprises

Maker of LoanReveal and शेठजी

LoanReveal is built and run by Advik Enterprises, a small software maker in India. We spend our working days on how Indian loans are actually priced and repaid, and we built LoanReveal because the questions borrowers ask most (should I prepay, cut my EMI or my tenure, switch banks) were the ones lenders' own calculators did not answer.

Our other product: शेठजी

शेठजी

Android offline khata book app

शेठजी helps local jewellers keep their gold loan (girvi) accounts on their phone instead of a paper khata: customers, pledged gold, interest and payments. It works fully offline, so the shop's data stays on the jeweller's own phone, and it uses the same careful interest maths as LoanReveal.

How we write and check our pages

• Numbers come from the engine, not from memory. Every worked example on a calculator or guide page is computed by the same engine the calculators use when the page is built, so the text and the tool always agree.
• Rules come from the source. Where a page mentions a rule (Key Facts Statement and APR, foreclosure charges on floating-rate loans, rate-reset choices, gold loan LTV, tax deductions), we take it from the Reserve Bank of India's circulars and the Income-tax Act, not from lender marketing.
• No bank's rate is quoted as current. Rates change every few weeks, so we use ranges and ask you to check your own sanction letter or KFS.
• Reviewed and dated. Each guide shows when it was last updated. When RBI or tax rules change, we update the affected pages and the engine's tests.

How we calculate

All calculators share one tested calculation engine. It follows the conventions most Indian lenders use:

• Reducing balance, monthly rests. Each month's interest is the outstanding principal × annual rate ÷ 12.
• EMI formula. EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), rounded to the nearest rupee.
• Month-by-month simulation. Prepayments, extra payments and rate comparisons are run month by month rather than approximated with formulas, so timing is reflected correctly.
• Final EMI adjustment. The last instalment is adjusted so the loan closes at exactly ₹0, as lenders do.
• Fees and GST. Processing and foreclosure fees attract 18% GST, which we include by default.
• APR. For offer comparisons, APR is the yearly rate at which your EMIs repay the amount you actually receive after fees.

The engine is covered by automated tests against published EMI figures and internal consistency checks (for example, principal repaid always adds up to the loan amount).

What we don't model

• Future changes to floating rates.
• Broken-period interest between disbursal or prepayment and your EMI date.
• Your personal tax position (we explain how to account for it where relevant).

Your privacy

You don't need an account. What you type into a calculator stays in your browser; the My loan tracker saves only on your own device. See our privacy policy for the analytics and advertising cookies the site uses.

Independence

We are not paid by lenders to rank or recommend them. The site is supported by advertising, which never appears above a calculator.

Spotted something wrong, or want a tool we don't have? Tell us.