Loan / EMI Calculator
Calculate monthly payments, total interest, and amortization schedule
Monthly Payment (EMI)
EMI
313.36
Payment breakdown
About the Loan Calculator
This loan calculator works out the monthly payment, total interest and complete amortisation schedule from the amount, rate and term you enter. It shows how much of each payment goes to interest rather than principal, so the real cost of a term is visible.
A loan calculator turns three numbers — amount borrowed, annual interest rate and term — into the figure that actually matters: what leaves your account each month. It also totals the interest paid across the loan, which is where longer terms get expensive.
The amortisation schedule is the part worth reading. Early payments are mostly interest and barely reduce the balance; later ones are mostly principal. Seeing that split explains why overpaying early saves far more than overpaying near the end, and why a 30-year term can cost nearly twice the borrowed amount.
Change the rate or term and the schedule recalculates immediately, which makes side-by-side comparison straightforward. Everything runs in your browser, so the figures you enter are never uploaded, logged or shared.
How to use the Loan Calculator
- Enter the loan amount. Type the principal you intend to borrow.
- Set the interest rate. Enter the annual rate offered by the lender.
- Set the term. Enter the repayment period in years or months.
- Read the schedule. Check the monthly payment, total interest and the amortisation breakdown.
Loan Calculator features
- EMI calculation with formula accuracy
- Complete amortization schedule
- Multiple loan type presets
- Monthly payment breakdown
- Total interest calculation
- Principal vs interest analysis
- Custom loan parameters
- Visual payment schedule
- Export results functionality
- Professional financial accuracy
Frequently asked questions
How is EMI calculated and what factors affect it?
EMI (Equated Monthly Installment) is calculated using the formula: EMI = P × r × (1+r)^n / [(1+r)^n-1], where P is principal, r is monthly interest rate, and n is loan tenure in months. Key factors affecting EMI include loan amount, interest rate, loan tenure, and payment frequency.
What types of loans can this calculator handle?
This calculator handles various loan types including home loans, car loans, personal loans, education loans, and business loans. It provides presets for common loan scenarios with typical interest rates and terms, while allowing customization for your specific loan parameters.
What is an amortization schedule and why is it important?
An amortization schedule shows the complete breakdown of each loan payment into principal and interest components over the loan tenure. It helps you understand how much interest you'll pay overall, how quickly you'll build equity, and the impact of prepayments on your loan.
How does interest rate affect total loan cost?
Interest rates significantly impact total loan cost. A 1% difference can change total interest by thousands of dollars over the loan term. Higher rates increase monthly payments and total interest paid, while lower rates reduce both. Compare rates from multiple lenders for best terms.
Should I choose longer or shorter loan tenure?
Shorter tenure means higher monthly payments but less total interest paid. Longer tenure reduces monthly payments but increases total interest significantly. Consider your monthly budget, income stability, and long-term financial goals when choosing loan tenure.
What are the loan presets and how should I use them?
Loan presets provide typical parameters for common loan types: Home Loan ($300K, 7.5%, 30 years), Car Loan ($25K, 6.9%, 5 years), Personal Loan ($10K, 12%, 3 years), and Education Loan ($50K, 5.5%, 10 years). Use these as starting points and adjust based on your specific situation.