Loan Calculator
Calculate your monthly loan payment (EMI), total interest, and full repayment cost for any loan. Enter the loan amount, interest rate, and term to see a complete year-by-year amortization schedule. Works for home loans, car loans, and personal loans.
Secure & Private Client-Side
This tool runs entirely in your browser. No data is sent to any server, ensuring your information remains private and secure.
About Loan Calculator
Calculate your monthly loan payment (EMI), total interest, and full repayment cost for any loan. Enter the loan amount, interest rate, and term to see a complete year-by-year amortization schedule. Works for home loans, car loans, and personal loans.
Frequently Asked Questions
How is the monthly EMI calculated? expand_more
EMI 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 interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months. The [Loan Calculator](/tools/loan-calculator/) does this instantly.
What is an amortization schedule? expand_more
An amortization schedule shows how each payment is split between principal and interest over time. Early payments are mostly interest; later payments are mostly principal. Our calculator shows a year-by-year breakdown.
Does this work for home and car loans? expand_more
Yes! The calculator is currency-agnostic and works for any fixed-rate installment loan including mortgages, auto loans, and personal loans.
How can I reduce my total interest? expand_more
A shorter term, a lower rate, or making extra payments all reduce total interest. To see how a lump-sum extra payment helps, use our [Loan Prepayment Calculator](/tools/loan-prepayment-calculator/).
Is my financial data sent anywhere? expand_more
No! All calculations run entirely in your browser. Nothing you enter is ever uploaded to a server.
Common Use Cases
- Home & Auto Loans: Estimate your monthly EMI before signing, and see the total interest over the life of the loan.
- Budget Planning: Adjust loan amount, rate, and term to find a monthly payment that fits your budget.
- Compare Offers: Plug in rates from different lenders to see which deal actually costs less over time.
- Amortization Insight: View the yearly schedule to see how much of each payment goes to principal versus interest.