Frequently asked questions
Everything about how EMIelly calculates, stores, and presents your loan numbers.
Yes, completely free. Every calculator and tool on this site is free with no login, paywall, or usage limit.
No. All calculations happen in your browser using JavaScript. The only thing that may be saved locally is a cookie consent flag and, if you use the Decision Engine and accept cookies, the loans you type in, stored on your device only.
The formula used is the standard reducing balance EMI formula used by Indian banks and NBFCs. Actual bank EMI may vary slightly due to rounding conventions, processing fees, or insurance bundled into the loan.
The math works for any reducing balance loan anywhere. The tax benefit notes (Section 24, 80E, 80C) and typical rate benchmarks referenced in the loan health verdict are specific to India.
The score is intentionally rules based and conservative, meant to flag real risk factors (high rate, long tenure, high EMI to income) rather than reassure you. Treat it as a prompt to double check, not a final verdict.
No, EMIelly is an educational calculator. For decisions specific to your situation, consult a licensed financial advisor. See our full disclaimer for details.