Financial Disclaimer
Last updated: 15 July 2026
PrepayWise's calculators are for illustration and planning purposes only. Nothing on this site is financial, legal, or tax advice, and using it doesn't create any advisory relationship between you and PrepayWise.
What Our Calculators Do
Every calculator on this site — EMI, prepayment, debt payoff, refinance, eligibility, and the Debt-Free Planner — uses standard, publicly documented reducing-balance amortisation math applied to the numbers you enter. The formulas are the same ones banks and NBFCs use to compute EMIs; we haven't invented anything proprietary, and the results are only as accurate as the inputs you provide.
What They Don't Account For
To keep the tools simple and fast, our calculators intentionally don't model:
- Lender-specific fees — processing fees, foreclosure/prepayment charges beyond what you manually enter, legal or valuation charges, and GST on charges.
- Floating-rate resets — if your loan is on a floating rate, your actual rate will change over time; our projections assume the rate you enter stays constant unless you're using a tool designed to compare two fixed rates.
- Tax benefits — deductions like Section 24(b) (home loan interest), 80C (principal repayment), or 80E (education loan interest) are not factored into any savings or payoff-timeline figures.
- Eligibility beyond a simple ratio — our Loan Eligibility calculator uses a basic EMI-to-income ratio. Actual approval also depends on your credit score, employment type, existing obligations, and each lender's internal policies.
- Insurance, bundled products, or promotional/introductory rates that may apply to a specific offer.
Always Confirm With Your Lender
Treat every number here as a starting point for a conversation with your bank, NBFC, or a licensed financial advisor — not as a final figure. Before prepaying, refinancing, or restructuring a loan, ask your lender for a written, official statement of the exact amount, charges, and impact.
No Liability
PrepayWise and its operators are not responsible for any financial outcome resulting from decisions made using this site. Use of the calculators is entirely at your own discretion and risk.
Questions
If anything here is unclear, email contactprepaywise@gmail.com.
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