Loan / EMI Calculator
Enter the loan amount, interest rate and term to see your monthly payment (EMI), total interest and a year-by-year repayment schedule.
Monthly payment
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Total interest
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Total paid
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Repayment schedule
| Year | Principal | Interest | Balance |
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How to use the loan calculator
Enter how much you want to borrow, the yearly interest rate and how long you’ll take to repay. The calculator shows your fixed monthly payment (also called EMI), what you’ll pay in interest over the whole loan, and a schedule of how each payment splits between interest and principal.
Works for mortgages, car loans, personal loans and student loans with a fixed rate. Fees and insurance aren’t included.
Frequently asked questions
How is the monthly payment (EMI) calculated?
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12) and n the number of months.
Why is most of my early payment interest?
Interest is charged on the remaining balance. At the start the balance is highest, so interest takes a bigger share. Each month a little more goes to the principal.
How much do extra payments save?
Extra payments go straight to the principal, which lowers every future interest charge. Add an extra monthly amount to see how much sooner the loan is paid off and how much interest you save.