An honest second opinion on the flat you're about to buy

Your first minute

On first launch the app walks you through Quick Start — a welcome page and two short screens that ask for the six things a verdict needs. If you'd rather explore first, tap Use sample deal and play with the built-in 2BHK (it carries a SAMPLE badge until you rename it).

1. 1
   About the property

   Choose what you're buying — Flat / house, Shop / office or Plot / open land — name the deal, pick the state, say whether it's ready or under construction, and say whether the price you were quoted is the agreement value or the builder's all-in figure (taxes included — the app backs them out). Then the price and the rent it would fetch. A plot skips the loan page: it's modelled as bought outright.

2. 2
   About the loan

   Down payment %, interest rate and loan tenure. The loan amount is shown as you go.

3. 3
   See my verdict

   The deal is saved and you land on its verdict. Everything — stamp-duty details, builder charges, prepayments, tax slab — can be changed later from the deal screen, and every change recomputes live.

The same Quick Start runs whenever you choose New deal from the Deals menu. To rename a deal, just tap its name above the verdict and type.

Cheat sheet

Everything in the app follows a handful of conventions. Learn these and no screen will surprise you.

The three tabs

First launch still opens straight into Deal's Quick Start, so a new deal is one minute away regardless of tab order. On iPad the Deal tab becomes two columns — inputs on the left, verdict, chart and tables on the right — and the tab bar moves to the top.

The verdict

The card at the top of the Studio is the whole app in one glance. It gives one of three calls:

Under the call is one sentence explaining it — the annual return, how it compares to a Nifty SIP, how much cash you need to park before handover, and the month from which selling would return your money. Below that are the three numbers that drive the call:

Below the break-even line sits a second, tappable one: Return peaks around year N at X%/yr. Tap it for the full year-by-year table — the annualised return and terminal wealth if you sold at the end of each year instead of riding out the full ten, useful for deciding how long you actually need to hold before the deal pays off.

Three scenarios

The single assumption that swings a property decision more than any other is how fast prices grow. So the verdict is never shown once — it's shown three times, and each pill is coloured by its own answer:

Tap any pill to swap the headline, drivers and break-even for that scenario. Underneath, a one-line summary says what the decision hinges on — for the sample deal: "Marginal at 9%+ price growth; a clear pass below that."

The four numbers

A strip of four tiles stays pinned at the top as you scroll. Labels wrap on smaller phones or larger text sizes rather than being cut off, and tapping (or pressing and holding) any tile anywhere in the app opens a card with the full label, the full value, its caption and the explanation.

The charts

One card, one chart at a time — pick a tab. Each shows a single thing on a single axis, and the app remembers which tab you left it on. Drag a finger across any of them to read a month or year.

What-if in plain English

The ✨ bar under the chart understands short commands. Type one or tap a suggestion chip; the whole screen recomputes.

Commands change the deal permanently (they're just a faster way of moving the sliders). Use Duplicate from the Deals menu first if you want to keep the original.

Property inputs

Property and loan inputs live behind one Edit deal row, collapsed by default once a deal has values — these are "fill in once" details, not something you need open every time you check on a deal. Tap it (or tap the loan line in the verdict) to expand both cards; the row's own subtitle keeps the gist ("Flat · ₹85.00 L · 20% down · 9.00% for 20y") visible while it's closed.

The three you always need

Every control works the same way

Label on the first line, slider plus a typed box on the second. The slider is for what-ifs; the box is for the exact number you know. Money boxes have ₹ / L / Cr unit chips; you can also type 85L or 1.2Cr directly.

More: builder charges, state & tax

Home loan inputs

More: loan charges, MaxGain & joint loan

Step-up & prepayments

Raise EMI 10% every year

One switch, off by default so your first verdict assumes nothing beyond what the bank offers. When it's on, each year's EMI is 10% higher than the last (compounding), which typically closes a 20-year loan in nine or ten years. The line under the switch shows what it saves — or, while it's off, what turning it on would save.

Lump-sum prepayment

Tap Add a lump-sum prepayment, pick a loan month and an amount. The loan curve steps down at that month and the verdict recomputes. You can add as many as you like — the quick control edits one month at a time; the full schedule lets you edit every month.

The month-by-month schedule

Tap Schedule on the Home loan card (or the table icon in the toolbar). Every month of the loan is listed: opening balance, EMI, interest, prepayment and closing balance. Tap the “+” in the Prepay column on any row to enter a lump sum for that month — type 5L, 2.5L or 5,00,000. Rows with a prepayment are highlighted green.

Where the money goes

The cost waterfall, line by line: agreement value → stamp duty → registration → GST → builder extras → loan charges → all-in cost, then day-one cash, then (for under-construction) the pre-EMI total and cash before handover. Underneath, two secondary tiles: monthly EMI and interest saved. For a shop or office bought with a loan, a third tile appears — DSCR (Debt Service Coverage Ratio), net operating income over the annual EMI, the standard check a commercial lender runs. Below 1.2× reads amber, below 1.0× (rent can't cover the EMI) reads red.

AI underwriting memo

Tap Generate for a four-bullet memo: all-in cost and day-one cash, the gestation cushion, what the step-up saves, and a verdict on the return against the benchmarks. It runs on-device with Apple Intelligence on supported iPhones (iOS 26+); otherwise the app writes the same four bullets from its rules engine. Nothing is sent anywhere unless you add your own API key under Settings.

Saving & switching deals

Every change is saved automatically. To rename a deal, tap its name just above the verdict and type. The Deals menu (archive icon, top left) lists every saved deal and lets you:

• New deal — runs Quick Start for a fresh deal.
• Duplicate — copies the current deal, loan and prepayments included. The fastest way to test a variation without losing the original.
• Delete.
• Compare two deals — see below.

The Benchmarks tab always shows the deal selected here.

Compare two deals

Pick deal A and deal B from the two menus at the top. You get each deal's verdict, a head-to-head table with the better value highlighted on every row, and a chart of both returns against the benchmarks.

You need at least two saved deals; Duplicate is the quickest way to get a second one.

Share the verdict

Tap Share on the verdict card and choose one of two formats:

Both are generated on your phone and handed to the iOS share sheet — Mail, Files, AirDrop, print, anything.

The PDF report

Share → PDF report. An A4 document generated on your phone (about 10 pages for a 20-year loan), previewed in-app before you send it. It's the version of the analysis to give a CA, a bank, a co-buyer or your own records — everything the app computed, laid out to be read on paper.

Every page carries the deal name, a page count, the generation date and the note that it is a model with visible assumptions, not financial advice. Amounts use the same ₹ / L / Cr formatting as the app.

Scan a cost sheet

Tap the scan icon in the toolbar and pick a source: scan with the camera (multiple pages in one go), choose from Photos (one or more images at once), or choose a file (a PDF or image from Files). Each page is read on-device; rupee amounts (with Indian commas, or "L" / "Cr" suffixes) and percentages are picked out and listed below. Tap any detected amount and choose where it belongs — agreement value, rent, interest rate, property tax, floor rise, PLC or loan principal — and the field fills in.

My Loans

A separate vault for loans that aren't attached to a property deal — the home loan you already have, a car loan, a personal loan, a loan against property, or a MaxGain overdraft. Add one with the + button, either by importing a statement (next section) or by hand — or, if it's the loan behind a deal you're already tracking on the Deal tab, pull it in with zero re-entry (below).

Bringing in a deal's loan once it closes

A deal you're evaluating already has a full loan — rate, tenure, prepayments, everything — long before you'd want to plan its payoff here. Once the purchase is real, open the deal, expand Edit deal, and scroll to Deal closed? Track this loan at the bottom of the loan card. Confirm, and it appears in My Loans immediately.

It isn't a copy — it's the exact same loan record, now visible in both places. A prepayment or step-up you add from the My Loans workspace applies to the deal's numbers too, and vice versa. If you ever want it out of this list without touching the deal, delete it here and the app offers Remove from My Loans instead of a hard delete, since the deal still needs it.

Where you are in the loan

Because these loans already exist, each one asks for its first EMI date and what the amount you're typing represents:

With a date set, every schedule row is labelled with its calendar month, the list shows when each loan closes, and the portfolio tiles show outstanding today, interest still to pay and the month you'll be debt-free.

A loan imported with schedule rows shows a green banner in its workspace — "N months from your bank's schedule" — and its schedule uses those actual rows for the paid months (dimmed, with a TODAY marker) before projecting the rest. The ⋯ menu on the banner removes the imported rows if you'd rather use the headline terms.

The payoff workspace

Tap a loan to open its workspace. Everything you change here is a scenario: the impact is computed live against your saved plan, but the loan itself isn't touched until you tap Save. Leave the screen or tap Reset and it stays analysis-only — so you can ask "what if I prepaid ₹2 L this Diwali?" without committing to it.

When rates move: floating vs fixed, and applying a change to every loan

Every loan has a Rate type — Floating or Fixed — inside its workspace. Home, MaxGain and loan-against-property loans start as floating; car and personal loans as fixed. A repo or lending-rate move only touches floating loans; fixed ones are listed as not affected. The loan list shows each loan's current rate and type ("8.75% floating").

On the My Loans list, Rate change? opens one screen for the whole portfolio, so you don't open each loan to log the same move:

You can also just ask the chat — "RBI raised repo by 25 bps" — and tap Review & apply to floating loans on the answer, which opens the same screen with the move filled in.

Why "same EMI" costs more

When the bank keeps your EMI after a hike, the extra interest has to be paid off by running the loan longer, and the extra months themselves accrue interest. Raising the EMI instead pays that interest down sooner. For example, +25 bps on a ₹1.27 Cr loan at 7.15% with 108 EMIs left and a ₹95 L loan at 7.9% with 96 left:

So paying the extra ₹2,826 a month avoids about ₹1.2 L of interest — effectively a guaranteed return at the loan's own rate. The app's advice follows from that: if the higher EMI fits your budget, ask the bank for it; if cash is tight, keep the EMI and prepay a single lump sum (about ₹2.1 L here, computed per loan) to win the months back, putting spare money into the loan with the highest rate first. On a rate cut it says the reverse: keep paying the old EMI so the loan finishes sooner. Figures assume monthly compounding and that the new rate applies from the chosen EMI.

Import a statement

My Loans → + → Import from a statement. Pick a PDF or image from Files, a photo or screenshot from Photos, or scan the paper with the camera (multiple pages are fine).

1. 1
   The text is read on your phone

   PDFs with selectable text are read directly; scans and photos go through on-device OCR.

2. 2
   The loan details are picked out

   Loan amount, outstanding balance, interest rate, tenure, EMI, first EMI date and lender — by Apple's on-device model where available (or your own cloud key if you added one), with a pattern-matcher as backup. The two are cross-checked: if they disagree on an amount, the one that's physically plausible wins (the EMI must cover the interest; outstanding can't exceed the original loan).

3. 3
   If it's an amortization schedule, the rows are read too (details)

   Month-by-month tables are recognised whatever the bank's column order — the app works out which column is the balance (it falls), which is the EMI, and which are interest and principal (they add up to the EMI; interest falls, principal rises). Those rows become history: the months already paid are taken from the bank's numbers, including any prepayments (a balance drop bigger than the principal component) and rate changes (a lasting shift in interest ÷ balance) it can see. The app then projects forward only from the last row. A card on the review form shows what was found — rows and dates, opening → closing balance, latest EMI and implied rate, prepayments, rate changes — with a switch to use or ignore them.

4. 4
   You review, then add

   A form shows what was read. "Years left" is derived from the EMI on the statement, and a green tick confirms the EMI matches the terms — an amber warning means something was misread; adjust and the tick returns. Nothing is saved until you tap Add loan. "Text that was read" shows the raw OCR if you want to check.

Upload an amortization schedule

The most accurate way to add an existing loan. Banks issue a repayment schedule (HDFC, SBI, ICICI, LIC HFL and others all do, from net-banking or on request) — a table with one row per month. Upload it via My Loans → + → Import from a statement and the app reads the rows themselves, not just the headline terms.

What to upload

What the app reads from the rows

Column order doesn't matter and headers aren't required — columns are identified by how the numbers behave:

From those rows it derives:

• Months already paid — exactly the rows in the table, so "outstanding today" and "EMIs paid" match the bank.
• Prepayments — any row where the balance fell by more than the principal component of the EMI.
• Rate changes — a lasting shift in interest ÷ opening balance (the implied annual rate), typical of repo-linked resets.
• Latest EMI and implied rate — used to project the remaining months, and to derive years left from the EMI rather than trusting a printed tenure.
• First EMI date — the first row's date, which anchors every schedule month to a calendar month.

Review before saving

The review form shows a green schedule rows card: how many rows and their date range, opening → closing balance, latest EMI and implied rate, prepayments found, rate changes found — and a switch to use the rows as history or ignore them. The usual EMI cross-check (green tick / amber warning) still applies. Tap Add loan and the loan opens with a banner, "N months from your bank's schedule"; its schedule uses the actual rows for those months (dimmed, with a TODAY marker) and projects only from the last row's balance. Your payoff plan — step-ups, prepayments — applies to the projected months.

Ask about my loans

My Loans → the Ask about my loans card (or the chat icon top-left). A chat that answers questions across every loan in your vault. The important design choice: every number comes from the amortization engine, never from a language model. The model — Apple's on-device one, or your own key — only phrases answers, adds a short takeaway, and handles free-form questions from a fact sheet the engine wrote. Without any model the chat still answers everything below.

Answers that point at a loan carry an Open this loan button that jumps to its workspace, where you can turn the suggestion into a scenario and save it. Suggestion chips under the chat cover the common questions.

It remembers, and it understands how you talk

Short follow-ups reuse the last question: "and at 50 bps?", "just Loan 2", "what about ₹10 L". Write the way you speak — including Hindi or Hinglish ("RBI ne repo badhaya, mera EMI kitna badhega"). The on-device model only turns your sentence into a structured request (which question, which loan, how much); the engine does all the arithmetic, and anything that would change a loan waits for your tap. A rate move with no size is read as RBI's usual 25 bps.

Do this next

At the top of My Loans, a card names the single best next move — for example putting spare money on the loan with the highest effective rate — and tapping it opens the chat with that question already asked.

Benchmarks & Risk

10-year annualized return

Five bars: this property leveraged (net of capital-gains tax on the eventual sale), the same property bought all-cash — same rent, same price growth, but no loan and no interest deduction, so it isolates what the leverage itself is adding or costing you — a Nifty 50 SIP (12% CAGR, post 12.5% LTCG), a commercial REIT (7.8% distribution yield), and prepaying existing debt (8.5% risk-free, post-tax).

On a deal with an expensive loan, the all-cash bar can come out ahead of the leveraged one — a clear sign the loan is what's dragging the return down, not the property itself.

What you'd have after 10 years

Every strategy receives the identical money — day-one equity plus each monthly EMI, pre-EMI and prepayment — so the rupee outcomes are directly comparable. The property's wealth is its value minus capital-gains tax on selling and the loan outstanding, plus all the net rent it collected.

Risk: sensitivity shocks

Titled What if things go wrong? — the deal recomputed under: rate +100 and +200 bps, rent 20% lower, empty 15% of the year, prices growing only 4% (and 9%), handover 12 months late, and no EMI step-up. Each row shows the return per year and monthly cash flow, coloured relative to your base case above it — not an absolute bar. A shock reads red only if it actually makes the deal worse than what you're already looking at; identical-to-base rows (a late handover often changes nothing about the 10-year return) stay neutral, and a shock that happens to help reads green.

Settings

Gear icon in the Deal toolbar. The ? next to it opens this guide.

How the maths works

Everything is computed on your phone from the formulas below. Nothing is fetched.

All-in cost

Agreement value = base cost + floor rise + PLC.
Statutory levies = stamp duty (state rate × AV, or your own override amount) + registration (1% of AV, capped at ₹30,000 in Maharashtra) + GST (rate × AV).
All-in cost = AV + statutory levies + builder extras + loan charges.
Day-one cash = AV × down payment % + statutory levies + builder extras + loan charges.

Pre-EMI during construction

Each month before handover: 62% of the sanctioned loan × monthly rate. Cash before handover = the sum of those months plus property tax for the period. No rent is assumed until handover.

The loan

EMI = P·r·(1+r)ᴺ ÷ ((1+r)ᴺ − 1), with r the monthly rate and N the months.
Step-up: EMI in year y = base EMI × (1 + step-up)^(y−1).
Prepayments reduce principal in the month entered. MaxGain: interest each month accrues on max(0, balance − parked balance).

Payoff plans

Step-up: EMI in year y = base EMI × (1 + step-up)^(y − first-raise-year + 1), for y ≥ the first-raise year. Recurring prepayments expand into one amount per scheduled month and add to any one-off in the same month. Imported schedule rows replace the engine for months 1…k; the projection starts from the last row's closing balance with the remaining months, and your plan applies to the projection months.

Advisor solvers

Close-first order: effective rate = rate × (1 − slab × shielded share), where shielded share = min(annual interest, ₹2 L) ÷ annual interest for home loans and 0 otherwise. Debt-free in N months: needed EMI = EMI(outstanding, rate, N); extra = needed − current EMI; or lump sum = outstanding − present value of the current EMI over N months. Where a lump sum goes: interest saved per loan from a schedule with that sum prepaid in month 1.

Tax

Net annual value = rent × 12 × (1 − vacancy) − property tax.
Section 24(a): 30% of NAV is deductible — this is treated as covering maintenance too, so maintenance / society charges aren't separately deducted from taxable rent.
Section 24(b): by default the full interest is deductible with no cap — every deal here is modelled with rent, i.e. let-out, where the law allows 100%. Switch off Full Section 24(b) deduction to instead cap it at ₹2 L (₹4 L if joint), the more conservative self-occupied-style rule.
Taxable rent = max(0, NAV − 24(a) − 24(b)), taxed at your slab.
Monthly cash flow = rent − EMI − property tax − maintenance − tax.

Return and break-even

Capital-gains tax on sale = 12.5% × max(0, sale value − cost of acquisition), where cost of acquisition is the agreement value plus statutory levies and builder extras (loan charges are financing costs, not part of the property's cost, so they're excluded) — the flat rate for a purchase made today, with indexation no longer available. This is subtracted wherever the app assumes a sale.
Return per year is the XIRR of: −day-one cash, then each month's cash flow (lump sums included), then in month 120 the flat's value at your growth rate minus capital-gains tax on that value minus the loan still outstanding.
Break-even is the first month where value − capital-gains tax − loan obligation + cumulative cash flow ≥ 0. Before handover the obligation is the full sanctioned loan, not just the part drawn, because the rest is still owed to the builder.

Benchmarks

The same contribution stream — day-one cash and every monthly outflow — is grown at 12% (Nifty, then 12.5% LTCG on the gain), 7.8% (REIT) and 8.5% (prepaying debt). Their annualized figures are the XIRR of that stream. The all-cash comparison instead reruns the full property model with the loan removed: day-one outflow becomes the entire cost of acquisition (no down-payment split, no loan charges), monthly cash flow drops the EMI, and taxable income drops the Section 24(b) interest deduction it would no longer be entitled to — same rent, same escalation, same vacancy, same price growth and the same 12.5% capital-gains tax on exit as the leveraged version.

Cash-on-cash return

Year-one net cash flow (after handover) × 12, divided by day-one cash — not the all-in cost, which is what rent yield divides by. The two agree only when there's no loan.

DSCR

Net operating income in year one (effective rent minus property tax minus maintenance, before EMI and before income tax) divided by that year's total EMI. Shown only for a commercial purchase with a loan.

Return by exit year

For each year 1…10: the same XIRR construction as the ten-year return above, but truncated — flows only up to that year's last month, with the terminal add-on (value minus capital-gains tax minus loan outstanding) applied at that month instead of month 120. The year with the highest resulting XIRR is what "Return peaks around year N" reports.

The verdict rules

These thresholds are deliberately simple and visible. They are one reasonable opinion, not the only one.

Glossary

FAQ

Why is my yield red when it's a positive number?

Because it's judged against your loan rate. A 3% yield on money borrowed at 8.5% means the flat costs you 5.5% a year to hold, before price growth. Red is the honest colour.

The verdict says Rent + SIP. Is the app anti-property?

No — it's anti-assumption. Set price growth to 9% and most Indian metro deals turn Marginal or Buy. The point of the three scenarios is to show you exactly how much of the decision is riding on that number.

Does "Cash before handover" include my rent elsewhere?

No. It's the pre-EMI interest plus property tax on the new flat. Whatever you pay in rent to live somewhere meanwhile is on top.

Why does the loan curve jump up at handover?

During construction the bank disburses progressively (modelled at 62% on average). At handover the full sanctioned amount is outstanding and the real EMI begins.

My state isn't Maharashtra, Karnataka or Delhi.

Choose Other (6% stamp duty, 1% registration), then switch on Override stamp duty under Property › More and type your actual figure — no more adjusting mentally. Or tell me your state's schedule and I'll add it properly.

Does the return account for tax on selling the flat?

Yes. Every return figure, terminal wealth number and the break-even month already subtract capital-gains tax (12.5%, no indexation — the current rule for a purchase made today) on the gain over cost of acquisition, wherever the app assumes a sale at the end of the horizon or at break-even. The Nifty benchmark was always taxed this way; the property side now is too, so the two are comparable.

Can I add my society maintenance?

Yes — Property › More › Maintenance / society charges (monthly). It reduces your monthly cash flow and the rent-yield tile, but not your taxable rental income, since the flat 30% repair deduction already stands in for actual maintenance spend under Indian tax rules.

Can I import my existing loan?

Yes — My Loans → + → Import from a statement. A PDF, photo or scan of a statement, sanction letter or amortization schedule. Schedules are read row by row, so paid months, prepayments and rate resets come from the bank's own numbers. You review before anything is saved.

Are the chat's answers trustworthy?

The numbers are — they come from the same amortization engine as every screen in the app, and each answer shows a table you can check. A language model, when available, only phrases the answer and handles free-form questions from a fact sheet the engine wrote; it never invents figures. The strategy it gives (avalanche by effective rate) is the standard one; your circumstances may argue otherwise.

I changed things in a loan and they vanished when I came back.

That's by design: workspace changes are scenarios until you tap Save. If you meant to keep them, make the change again and tap Save.

Is my data backed up?

Two ways. With iCloud sync on (the default), deals and loans live in your own private iCloud and come back on a new device or reinstall. And Settings → Backup exports everything as a JSON file you keep wherever you like, and imports it again without duplicating.

Why is there a "this property (all-cash)" bar in Benchmarks now?

It's the same property, same rent, same price growth — just bought outright instead of with a loan. Comparing it to the leveraged bar right above it tells you whether the loan itself is helping or hurting: if all-cash returns more, the loan's rate is higher than what the property is actually earning you, and leverage is working against you on this specific deal.

Can I model a plot with a loan?

Plots are modelled as bought outright, which is how most plot purchases work and keeps the maths honest (no Section 24 shield, no pre-EMI). To test a plot loan, choose Flat / house as the kind and set the terms — only GST differs, and land has none.

Is this financial advice?

No. It's a model with visible assumptions. Talk to your CA, and read the agreement.

Troubleshooting

Privacy

No account, no analytics, no ads, no crash-reporting SDKs. Deals and loans live in SwiftData on your device. Any AI key you add lives in the Keychain and is used only to call that provider directly from your phone. Full policy: aniketshetty.com/loanyieldiq/privacy.

Questions or a state schedule to add? aniket.shetty@gmail.com