Hi, I'm Anup Choudhary ๐
I'm a software developer and personal finance enthusiast based in Pune, India. I created RinMukt to solve a problem I faced myself โ understanding the true cost of my home loan and how prepayment could save me lakhs.
๐ Connect With Me
LinkedIn: Anup Chaudhary โ Feel free to connect!
The Mission
RinMukt (เคเคฃเคฎเฅเคเฅเคค - meaning "free from debt" in Hindi) was created with a simple mission: help Indian home loan borrowers save lakhs of rupees by showing them the power of prepayment.
Most EMI calculators show you the monthly payment. I wanted to show something more valuable: how much you can save by paying a little extra each month.
๐ก Did You Know?
On a โน50 lakh home loan at 8.5% for 20 years, you pay โน54 lakhs in interest โ more than the loan itself! By paying just โน5,000 extra monthly, you can save โน8-10 lakhs and close the loan 5 years early.
Why I Built This
When I took my home loan, I noticed that most borrowers (including myself initially) don't understand the true cost. Banks don't make it obvious how much interest you'll pay over 20 years, or how small prepayments can save lakhs.
As a developer, I decided to build the calculator I wished I had:
- Show real savings โ Not just EMI, but actual interest saved with prepayment
- Compare scenarios โ Normal EMI vs. prepayment side by side
- Work for all banks โ SBI, HDFC, ICICI, Axis, and any other bank
- Be 100% free โ No ads, no premium features, no data collection
Our Values
Accuracy
EMI calculations use the standard reducing balance formula used by all Indian banks
Privacy First
All calculations happen in your browser. We don't store or transmit any of your data
Accessible
Works on any device, any browser. Even works offline once loaded
Free Forever
No hidden fees, no premium features. Financial literacy should be free
How Our Calculator Works
We use the standard reducing balance EMI formula used by all Indian banks:
EMI = P ร r ร (1+r)โฟ / [(1+r)โฟ - 1]
Where P = Principal, r = Monthly interest rate, n = Number of months
For prepayment calculations, we simulate the entire loan month-by-month, applying extra payments to principal and recalculating interest accordingly.
Get in Touch
Have feedback, suggestions, or found an error? I'd love to hear from you!
๐ง Email: achaudhary7@gmail.com
๐ LinkedIn: linkedin.com/in/anupchaudhary