Loan Calculator
Calculate monthly loan payments, total interest and total cost. Free, fast and private.
Formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where r = annual rate ÷ 12 ÷ 100 and n = months. Results are indicative estimates — actual payments depend on your lender's terms and fees.
How to use Loan Calculator
- Enter the loan amount, the annual interest rate and the term in years.
- Click Calculate to see your monthly payment.
- Read the breakdown: total interest and total amount payable over the life of the loan.
Note: this tool runs in your browser. Nothing is uploaded.
Frequently Asked Questions
How is a monthly loan payment calculated?
Using the EMI formula: P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r is the monthly interest rate and n is the number of monthly payments.
Does a longer term mean lower payments?
Yes, monthly payments fall — but you pay much more total interest over the longer term.
What affects my loan payment most?
The loan amount, the interest rate and the term. Even a 1% rate difference changes the total interest by a large amount on a big loan.
Is this loan calculator free?
Yes, it is 100% free with no sign-up. Your data stays in your browser.