Loan and EMI Calculator
Enter a loan amount, interest rate, and term to see the monthly payment, total interest, and total repayment.
Runs entirely in your browser, nothing is uploadedCalculate your payment in three steps
- Enter the loan amount and the annual interest rate offered by your lender.
- Set the loan term in years or months, whichever your loan agreement uses.
- Read off the monthly payment, total interest, and a preview of the payment schedule.
Why people use the Loan and EMI Calculator
Everything worth knowing before you dive in.
How it helps
A loan's headline interest rate rarely tells the full story, the actual monthly payment depends on the amount, the rate, and how long the loan runs, and small changes to any one of those numbers shift the total interest paid by a surprising amount. This calculator runs the standard amortization formula used by banks and lenders, so you can test different scenarios before signing anything.
Built for real use
Enter the loan amount, the annual rate, and the term in years or months, and the tool returns the fixed monthly payment along with the total interest and total amount repaid over the life of the loan. A preview of the first twelve payments shows how much of each one goes toward interest versus the principal balance, which starts high and gradually shifts toward paying down the loan itself.
Private by default
This is useful for comparing offers from different lenders, testing how a shorter term changes the monthly payment, or simply understanding what a quoted rate actually costs over time.
Common questions
What is EMI?
EMI stands for equated monthly installment, a fixed payment made every month that covers both interest and part of the loan principal.
Does this include fees or insurance?
No, the calculation covers principal and interest only. Origination fees, insurance, or taxes your lender may charge are not included.
Why does more of my payment go to principal over time?
Interest is charged on the remaining balance, which shrinks with every payment, so a growing share of each fixed payment goes toward principal as the loan matures.