Quick examples
Monthly Payment
$2,028
Total Interest
$21,658
Total Payment
$121,658
Payment schedule
Full amortization — switch views like a bank statement
Total EMI
$121,658
Principal
$100,000
Interest
$21,658
Closing balance
$0
| Period | Span | Total EMI | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 2026 | 5 payments | $10,138 | $6,896 | $3,242 | $93,104 |
| 2027 | 12 payments | $24,332 | $17,516 | $6,815 | $75,587 |
| 2028 | 12 payments | $24,332 | $18,970 | $5,361 | $56,617 |
| 2029 | 12 payments | $24,332 | $20,545 | $3,787 | $36,072 |
| 2030 | 12 payments | $24,332 | $22,250 | $2,082 | $13,822 |
| 2031 | 7 payments | $14,193 | $13,822 | $371 | $0 |
| Total | $121,658 | $100,000 | $21,658 | $0 | |
Loan Calculator — Quick Reference
The Loan Calculator is an online tool that calculate monthly loan payments, total interest, and amortization for any loan amount and term. Everything for the Loan Calculator is on this page: the interactive calculator, the formula, a worked example, step-by-step guidance, and frequently asked questions — no other pages required.
At a glance
- Main inputs
- Loan principal
- Annual interest rate
- Tenure (years or months)
- Main outputs
- Monthly EMI or payment
- Total interest
- Total amount repaid
Direct answers
What is the Loan Calculator?
The Loan Calculator is an online tool that calculate monthly loan payments, total interest, and amortization for any loan amount and term.
What formula does the Loan Calculator use?
Payment = P × r × (1 + r)^n / ((1 + r)^n − 1). In this formula, P is loan amount; r is monthly rate; n is months.
How does the Loan Calculator work?
Enter loan amount, annual interest rate, and tenure to calculate monthly payment, total interest, and total repayment.
Formula Used
The equation below is what this calculator applies. Variable definitions follow when symbols are used.
Equation
Payment = P × r × (1 + r)^n / ((1 + r)^n − 1)
Variables
- P
- loan amount
- r
- monthly rate
- n
- months
Worked Example: $250,000 loan at 9% for 5 years
Sample inputs and the results this calculator produces for the scenario below.
Inputs
- Loan Amount
- $250,000
- Interest Rate
- 9% p.a.
- Tenure
- 5 years
Results
- Monthly EMI
- $5,190
- Total Interest
- $61,375
- Total Payment
- $311,375
Generic loan EMI uses the standard amortization formula — each payment splits between interest on the outstanding balance and principal repayment.
How Loan Calculator Works
Enter loan amount, annual interest rate, and tenure to calculate monthly payment, total interest, and total repayment.
What to enter
Use the calculator above to set your amounts, rates, and tenure. Results update as you move sliders or type values — switch currency if you are planning in USD, INR, or another supported unit.
Step-by-step
- Open the Loan Calculator and enter your amounts, rates, and time period in the input fields.
- Review the results panel — totals update instantly when you change any value.
- Compare the worked example and formula below to verify the math matches your scenario.
- Read the FAQs for common edge cases, tax notes, and planning tips specific to this calculator.
Loan — Frequently Asked Questions
Each question is answered directly below. Expand any item for the full response.
What does a general loan calculator show?
It usually shows monthly payment, total interest, total repayment, and sometimes a period-by-period amortization schedule. That makes it useful for personal loans, education loans, business loans, and other standard installment debt.
What is the biggest driver of total loan cost?
Interest rate matters, but tenure is often just as important because a long repayment period can inflate total interest sharply. A slightly higher EMI with a shorter term may save more than many borrowers expect.
How should I compare two loan offers?
Compare rate, fees, prepayment terms, and total repayment instead of focusing only on the monthly installment. A lower EMI can simply mean a longer and more expensive loan.
What is a smart borrowing rule before taking a loan?
Check whether the EMI still works after normal expenses, insurance, and savings contributions. If the plan works only in your best income month, the loan is probably stretched.
Disclaimer
- This calculator gives you an estimate only. It is not a promise of exact results.
- This is general information, not personal financial, tax, or legal advice.
- You are responsible for your own decisions. Talk to a qualified professional when it matters.
- Banks and lenders may add fees, insurance, or a different interest method. Your real EMI can differ.
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