Bank-grade EMI maths
The fixed monthly payment uses the standard fully-amortising formula banks quote, plus a year-by-year schedule of interest and principal.
Loan & EMI Calculator
Monthly payment, total interest and a full amortisation schedule for any loan.
- Input
- No upload needed — instant
- Privacy
- Nothing is uploaded
- Cost
- Free · no sign-up · no watermark
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Overview
About the Loan & EMI Calculator
Work out a loan's fixed monthly payment (EMI) from the amount, rate and term, with total interest and a year-by-year amortisation schedule.
A loan calculator answers one question — what will I pay each month? — but the useful answer needs three: the monthly instalment, the total interest over the life of the loan, and how the balance actually falls. This tool gives all of them from the amount, the annual rate and the term, with a year-by-year amortisation schedule underneath.
The formula
The fixed monthly payment is
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)where P is the amount borrowed, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments (years × 12). At 0% it collapses to P ÷ n.
Reading the schedule
Each yearly row shows the opening balance, the interest paid that year, the principal repaid and the closing balance. Add up the interest column and you get the true cost of borrowing. Shortening the term or shaving the rate both cut that total sharply, which is why comparing terms here before you sign is worthwhile.
Private and precise
Every figure is worked out in your browser with standard financial formulas. Nothing you type is uploaded, stored or sent anywhere.
Step by step
How to use the Loan & EMI Calculator
Enter the total you are borrowing and pick your currency.
Add the annual interest rate as a percentage and the term in years.
Read the fixed monthly payment (EMI), total interest and total repaid.
Study the yearly amortisation table to see interest fall and principal rise.
Why use it
Benefits and common use cases
What this tool is good for, and what it deliberately does not try to do.
See the true cost
Total interest and its share of everything you repay are shown up front, so you can compare terms before you commit.
Any currency, rate or term
Works for mortgages, car loans and personal loans in ten currencies, with any rate and any length.
Questions
Frequently asked questions
Short, honest answers about quality, limits and privacy.
What does EMI mean?
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month so that a loan, with interest, is fully repaid by the end of the term. Each payment covers that month's interest plus a slice of the principal.
Why is most of my early payment interest?
Interest is charged on the outstanding balance, which is highest at the start, so early payments are mostly interest. As the balance drops, the interest portion shrinks and more of each payment reduces principal.
Does this include fees or insurance?
No. It calculates principal plus interest only. Arrangement fees, insurance or taxes are extra and should be added to the amount or compared separately.