Result
Your figures
1Loan particulars
Recovery begins the month after this date.
Fill this in only if you want to deduct more than the calculated minimum EMI each
month — for example, to close the loan sooner. Leave it blank to use the calculated minimum automatically.
2Rates, modifications and lumpsum payments
Interest rates, mid-term principal-recovery changes, and lumpsum repayments
3Close the loan early
Pick the date you want to pay off the remaining principal in one go. This works out what that final payment costs, the same way the workbook does: interest keeps running for that month and the one after, even though the principal is already clear.
Detail
4Recovery schedule
Lumpsum and modified-principal figures shown in colour. The row where the loan closes is highlighted.