Loan & EMI Calculator
Works out the fixed monthly payment on an amortising loan using the standard EMI formula, then shows the total interest and total amount repaid over the full term. Applies to mortgages, car finance and personal loans — anything repaid in equal instalments.
Free, no signupRuns entirely in your browser
Input
Result
- Monthly EMI
- $1001.90
- Total Interest Payable
- $10113.85
- Total Payout (Principal + Interest)
- $60113.85
About
What the Loan & EMI Calculator does
The total interest figure is the one worth looking at. Extending a term lowers the monthly payment, which is why lenders offer it, but it raises the total substantially: the same loan over 30 years instead of 20 can cost tens of thousands more even at an identical rate.
How it works
Using the Loan & EMI Calculator
- 1Enter the loan amount (the principal).
- 2Enter the annual interest rate as a percentage.
- 3Enter the term in years.
- 4The rate is converted to monthly and the term to months.
- 5The EMI formula gives the fixed monthly payment; multiplying by the number of months gives the total, and subtracting the principal gives the interest.
Use cases
What people use it for
- Estimating a mortgage payment before applying
- Comparing loan offers at different rates or terms
- Seeing what a shorter term would cost per month and save overall
- Checking a lender's quoted figure
FAQ
Frequently asked questions
6 related
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