Loan Calculator
Estimate monthly payments.
Enter principal, annual interest rate, and loan term.
Loan Inputs
Supports zero-interest loans too.
Total Paid
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Interest
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How It Works
Enter Loan Amount
Enter the total principal amount you plan to borrow.
Enter Interest Rate
Enter the annual interest rate offered by your lender.
Set Loan Term
Enter the repayment term in years or months.
Calculate EMI
Click Calculate to see your monthly payment and total interest cost.
Loan Calculator Overview
A Loan Calculator, also called an EMI Calculator, estimates your monthly payment — Equated Monthly Installment — for a loan such as a home, auto, or personal loan, based on the loan amount, interest rate, and repayment term. It also shows the total interest you'll pay over the life of the loan.
Why Use This Calculator
- Estimate monthly payments for any fixed-rate loan
- See total interest and total repayment over the full term
- Compare how different terms or rates affect your payment
- Useful for home, auto, personal, and student loans
Calculation Formula
EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1]
P = Principal, R = Monthly Rate, N = Months
Frequently Asked Questions
No — this calculates principal and interest only. Mortgages, in particular, often include property tax and insurance in the actual monthly payment (PITI), which this tool doesn't factor in.