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
- Monthly payment from amount, rate and term
- Total interest and total amount repaid
- Month-by-month amortisation schedule
- Currency symbol selector
- Copy any figure
- Recalculates immediately when you change an input
- Runs in your browser; the figures are not uploaded
Frequently asked questions
How is the monthly payment calculated?
With the standard amortising formula, which spreads principal and interest so every payment is the same size. The rate you enter is annual and is divided across the payment periods, so a 6% loan is charged at 0.5% of the outstanding balance each month.
Why is so much of my early payment interest?
Because interest is charged on the balance outstanding, and at the start that balance is nearly the whole loan. The schedule shows the crossover: payments are mostly interest early on and mostly principal near the end.
Why does overpaying early save more than overpaying later?
An extra payment reduces the balance every subsequent month's interest is charged on, so the saving compounds for the rest of the term. The same amount paid in the final year removes almost no interest, because there was hardly any left to charge.
How much does a longer term really cost?
The monthly payment falls but the total interest rises, often steeply — stretching a loan from 20 years to 30 can approach doubling the interest paid. Compare the total interest figure, not just the monthly payment, before choosing a term.
Are the figures I enter sent anywhere?
No. The whole calculation runs in your browser, so loan amounts and rates are never uploaded, logged or shared.