Work out the monthly EMI, total interest and total payment for a home, car or personal loan, with a full repayment schedule.
Loan Calculator
Calculate the monthly payment, total interest and total cost of a loan for any amount, rate and term.
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Loan details
Result
| Monthly payment | — |
|---|---|
| Total interest | — |
| Total cost | — |
Amortisation schedule
| Month | Payment (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|
Enter the loan amount, interest rate and term to see the schedule.
Runs entirely in your browser. Your files and text are not uploaded.
How to use Loan Calculator
-
Step 1: Enter the loan details
Type the amount you want to borrow, the annual interest rate and how long you will repay it.
-
Step 2: Read the results
The monthly payment, total interest and total cost update as you type.
-
Step 3: View the schedule
Expand the amortisation schedule to see the principal and interest breakdown for each month, and download it as CSV.
How the monthly payment is calculated
The calculator uses the standard reducing-balance formula:
Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- P is the loan amount (principal).
- r is the monthly interest rate: the annual rate ÷ 12 ÷ 100.
- n is the number of monthly payments.
At 0% interest the payment is simply P ÷ n.
Understanding total interest
Total interest is the difference between the total cost (monthly payment × number of payments) and the original loan amount. A longer term reduces the monthly payment but increases total interest, because you are paying interest on the remaining balance for more months.
Comparing loans
To compare loans from different lenders, look at the total cost rather than just the monthly payment. A lower rate or a shorter term always saves interest, but the monthly payment may be higher. Use this calculator to find the balance that fits your budget.
Limitations
- The interest rate is assumed to stay the same for the whole term.
- Processing fees, insurance, taxes and prepayments are not included.
- The calculator rounds the monthly payment to paise; the last payment is adjusted so the loan closes at exactly zero.
- Your numbers are not saved or sent anywhere.
Frequently asked questions
How is this different from the EMI Calculator?
The EMI Calculator is specialised for Indian home, car and personal loans with rupee formatting and Indian digit grouping. This Loan Calculator is a simpler, more general-purpose version for any loan in any currency.
Does a longer term make the loan cheaper?
It lowers the monthly payment but increases total interest. A shorter term costs less overall.
Can I use this for a car loan?
Yes. Enter the car loan amount, the interest rate your lender quoted and the term to see the monthly payment.
Why is my lender's figure slightly different?
Lenders may round the payment to the nearest rupee, charge interest daily, or add fees. Check your loan agreement for the exact amount.
Are my numbers sent to a server?
No. Everything is calculated in your browser.
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