Most salaried Indians running a home loan, car loan, or personal loan are tracking EMIs the same way: a cell in Excel, a note on their phone, or just memory.
It works until it does not.
Kedil is an EMI tracker app that puts all your loans in one place. Add each loan once, and your total monthly debt obligation is always current.
No formulas. No file to maintain.
Why Spreadsheets Break Down for EMI Tracking
A spreadsheet is fine when you have one EMI.
Add a second loan and you are copying formulas. Add a third and you are cross-referencing three different bank apps to check outstanding balances and remaining tenure.
The bigger problem is that spreadsheets do not update themselves.
Your EMI amount changes after a prepayment. Your interest recalculates after a rate revision. None of that happens automatically. You have to remember to update it.
Most people end up with a file that is two months out of date, a note on their phone with the old EMI amount, and no clear picture of what their total monthly commitment actually is.
According to the RBI’s December 2024 Financial Stability Report, nearly half of borrowers with a credit card or personal loan have another live retail loan outstanding, often a home or vehicle loan.
If that is you, you already know what happens when one detail slips.
What You Actually Need to Track Per EMI
For each loan, you need four numbers:
1. Monthly EMI amount
2. Outstanding principal
3. Remaining tenure
4. Interest rate, especially if it is floating
That is the minimum to know where you stand.
Most people have one or two of these numbers. Rarely all four, in one place, across all loans.
A good loan EMI management app does this automatically once you enter the loan details. You should not have to do this math yourself every time.
The Problem With Tracking EMIs Inside a Banking App
Your SBI home loan lives in YONO. Your HDFC car loan is in the HDFC app. If you have a Bajaj Finserv personal loan, that is a third app.
Each app shows you its own loan details.
None of them show you your combined monthly EMI obligation: the total amount leaving your account across all loans every month.
That number matters.
If your take-home is ₹80,000 and your total EMIs are ₹28,000, that is 35% of your salary committed before groceries, school fees, rent, fuel, or investments.
You need to see that number clearly before you plan anything else.
This is why a dedicated EMI tracker app is more useful than a banking app for budgeting.
Banking apps are built to show you your loan. Kedil is built to show you your full debt picture.
How to Track EMIs Without a Spreadsheet
The simplest method is one consolidated view where you enter each loan once and only update it when something changes.
Enter the loan amount, EMI, interest rate, and tenure.
The tool calculates outstanding principal and remaining months automatically.
Kedil is a loan EMI management app built for this. It handles home loans, car loans, personal loans, recurring EMIs, buy-now-pay-later dues, and credit card EMIs.
You add a loan once. It shows up in your monthly budget as a fixed commitment.
No CSV. No formula. No manual update unless your EMI itself changes.
Unlike spreadsheets, Kedil does not need you to maintain a file.
Unlike banking apps, Kedil shows you the full picture, not just one loan at a time.
Who This Is For
This is for salaried professionals with one or more active EMIs.
You may already be tracking money somewhere: Excel, Google Sheets, a notes app, or another finance app. But if keeping it current has become too much work, you need a better system.
This is not for someone with one simple loan and a spreadsheet that is working fine.
It is for people managing enough financial commitments that the tracking itself has become its own job.
FAQ
Q: Can I track a floating rate home loan?
A: Yes. Enter the current rate and EMI. When your bank revises the rate, update it. Kedil recalculates your outstanding balance and remaining tenure.
Q: What if my EMI amount changes after a prepayment?
A: Update the new EMI and outstanding principal. Everything else adjusts automatically.
Q: Do I need to connect my bank account?
A: No. Kedil does not access your bank account directly. You upload your bank statement as a PDF or enter loan details manually. No credentials, no third-party login.
Q: Can I see all my EMIs together in one number?
A: Yes. Kedil shows your total monthly EMI obligation across all active loans in one number, updated whenever you make a change.
Q: Is Kedil free to use?
A: Yes. Kedil is free during early access. No subscription is required to get started.
Try Kedil free during early access. Add your loans and see your total EMI in one view.
https://kedil.money