About
About CalcWise
CalcWise is a small set of free loan calculators for Indian borrowers, built by NidSpace (opens in a new tab). It currently includes:
- EMI Calculator — monthly EMI, total interest, processing fee with GST, and an amortization schedule by calendar or financial year.
- Loan Prepayment Calculator — the effect of one-time, monthly or yearly prepayments on tenure, EMI and interest.
- Loan Comparison Calculator — two loan offers side by side, including fees and an approximate effective annual rate.
How the calculations work
CalcWise uses the standard monthly reducing-balance EMI formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of monthly EMIs. Calculations use standard EMI amortization mathematics. Actual lender schedules may vary because of lender-specific rounding, dates, fees, rate changes and other terms.
What CalcWise is not
CalcWise provides calculations and general educational information. It is not a lender, does not arrange loans, and does not give personalised financial, tax or legal advice. Interest rates shown as examples are illustrative and are not quotes from any lender.
Privacy
There is no sign-up. Calculations run in your browser and the numbers you enter are not sent to a CalcWise server. See the Privacy Policy.