Loan Calculator
A fast online loan calculator and EMI calculator. Estimate monthly payments, interest, and total cost — plus a full amortization schedule. No signup.
Use this loan calculator to estimate EMI, total interest, and the repayment split for personal, car, home, and education loans. Enter principal, rate, and tenure — the tool returns the monthly payment and a dated amortization schedule.
Compare options quickly: change the rate or tenure to see how much you save on interest. Works with any currency and handles both month- and year-based tenures.
How to calculate an EMI
Four quick steps.
1. Principal
Enter the loan amount.
2. Interest rate
Annual rate quoted by the lender.
3. Tenure
In months or years.
4. Read result
EMI, total interest, amortization schedule.
What the tool needs
Four simple numbers to get a full picture.
Principal
The loan amount you borrow.
Interest rate (p.a.)
Annual rate quoted by the lender.
Tenure
In months or years — the tool handles both.
Start date (optional)
Used to generate a dated amortization schedule.
EMI formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
where P = principal, r = monthly interest rate (annual ÷ 12 ÷ 100), n = tenure in months.
The amortization schedule shows how each EMI splits into interest and principal — early EMIs are interest-heavy, later ones are principal-heavy.
Typical reasons to use the loan calculator
Personal loan planning
Estimate EMI and total interest before you apply.
Car loan comparison
Compare different rates and tenures side by side.
Education loan budgeting
See monthly payment against your expected income.
Top-up or refinance
Check if a better rate actually helps.
Common pitfalls
Quoted flat rate vs reducing-balance
‘Flat 10%’ isn’t the same as ‘10% reducing’. Reducing-balance EMIs are typically lower for the same headline number.
Ignoring processing fees
EMIs don’t include one-off processing fees and stamp duty. Add those to total cost when comparing offers.
Tenure extending cost
Longer tenure lowers EMI but raises total interest. Always check both numbers.
Prepayment penalties
Some loans charge for early closure. Confirm with the lender before planning foreclosure.
What this tool supports
| Feature | Supported | Notes |
|---|---|---|
| EMI / monthly payment | Yes | Standard reducing-balance EMI formula. |
| Total interest payable | Yes | Across the full tenure. |
| Total amount (principal + interest) | Yes | What you actually repay in full. |
| Amortization schedule | Yes | Month-by-month principal vs interest split. |
| Tenure in months or years | Yes | Switch without recalculating. |
| Currency-agnostic | Yes | Works with any currency — the ratios stay the same. |
| Account required | No | No signup, no install. |
Frequently Asked Questions
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Ready to plan your loan?
Enter principal, rate, tenure — see the EMI and full amortization in seconds.