FINANCE TOOL
Loan / EMI Calculator
Calculate monthly loan payments and total interest.
Monthly payment
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Total interest
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Total repaid
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Hover the chart to see the remaining balance at a given point in the loan term.
About this tool
Enter a loan amount, annual interest rate, and term to see the fixed monthly payment (EMI), total interest paid, and total amount repaid over the life of the loan. This uses the standard amortizing-loan formula that most fixed-rate mortgages, auto loans, and personal loans follow.
This is an estimate for planning purposes — it doesn't include fees, taxes, insurance, or rate changes, and isn't financial advice.
Frequently asked questions
- What formula is used?
- The standard fixed-rate amortization formula: monthly payment = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
- What if the interest rate is 0%?
- With a 0% rate the calculation simplifies to the loan amount divided evenly by the number of months, with no interest added.
- Does this account for extra payments or fees?
- No — it assumes a fixed rate, fixed term, and equal monthly payments with no extra payments, fees, or rate changes.