Loan / EMI Calculator
WEBWork out the monthly payment, total cost and interest on a loan.
Estimates only. Assumes a fixed rate and equal monthly payments — real loans may add fees, insurance or a different day-count, and this is not financial advice.
What is the Loan / EMI Calculator tool?
This loan and EMI calculator turns three numbers — the amount you borrow, the annual interest rate and the term — into the figures that actually matter: your fixed monthly payment, the total interest you will pay, and the full amount you repay by the end. EMI stands for equated monthly installment: the same payment every month that clears the loan exactly over its term. It is the number a lender quotes you and the one that decides whether a loan comfortably fits your budget.
The math uses the standard amortization formula, EMI = P · r · (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the principal, r is the monthly interest rate (the annual rate divided by twelve) and n is the number of monthly payments. A zero-percent loan simply divides the principal across the months. You can enter the term in years or months, and the breakdown bar shows at a glance how much of your total goes to principal versus interest — useful for comparing a shorter, cheaper term against lower monthly payments over a longer one.
Everything runs in your browser: your loan figures are never uploaded, stored or sent to a server, and once the page has loaded the calculator works offline. It is free, needs no sign-up, works on your phone, and fits car loans, personal loans, home loans and student loans alike. One honest note: this is an estimate that assumes a fixed rate and equal payments. Real loans can add arrangement fees, insurance, a different day-count or a variable rate, so treat the result as a strong first estimate and confirm the exact figure with your lender.
How to use the Loan / EMI Calculator
- Enter the loan amount you want to borrow.
- Enter the annual interest rate your lender quotes (as a percentage).
- Enter the loan term and pick whether it is in years or months.
- Read your monthly payment (EMI), total interest and total repayment instantly — they update as you type.
- Copy or share the result, and adjust the amount, rate or term to compare different loan options.
Frequently asked questions
What is EMI?
EMI stands for equated monthly installment — the fixed amount you pay every month to fully repay a loan over its term. Each payment covers part of the interest and part of the principal, so the balance reaches zero exactly on the final month.
How is the monthly payment calculated?
It uses the standard amortization formula: EMI = P · r · (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. For a 0% loan the payment is simply the amount divided by the number of months.
How do I lower my monthly payment?
Three levers change the EMI: borrow less, get a lower interest rate, or choose a longer term. A longer term shrinks each monthly payment but increases the total interest you pay overall — the breakdown bar lets you see that trade-off as you adjust the numbers.
Does this include fees, insurance or taxes?
No. The calculator assumes a fixed rate and equal payments on the principal only. Real loans may add arrangement or processing fees, mandatory insurance, or a variable rate, which can change your true monthly cost. Use this as an estimate and confirm the final figure with your lender.
Can I use it for a car loan, home loan or personal loan?
Yes. The EMI formula is the same for any fixed-rate amortizing loan, so it works for car loans, personal loans, home loans, mortgages and student loans. Just enter that loan's amount, rate and term.
Is my data private and is the tool free?
Yes on both. Your figures are processed entirely in your browser — nothing is uploaded or stored — and the tool is free with no sign-up, no account and no limits.