LOAN / EMI CALCULATOR

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Loan / EMI Calculator

See your monthly payment, total interest, and total repayment for any loan — mortgage, car, or personal.

Loan details

Your payment

$0
per month
Total interest paid
$0
Total repayment
$0
Number of payments
0
This uses a standard fixed-rate amortization formula (equal monthly payments over the full term). Real loans may include fees, taxes, insurance, or a variable rate not reflected here — check your actual loan offer for the exact figures.

How this calculator works

This tool uses the standard fixed-rate amortization formula that mortgages, auto loans, and most personal loans are built on: it calculates a single monthly payment amount that, when paid consistently every month for the full loan term, exactly pays off both the principal and all accrued interest by the final payment. Early payments in this schedule go mostly toward interest, with the balance gradually shifting toward principal as the loan matures — this tool shows the total figures rather than a full month-by-month breakdown, but the underlying math is the same used by banks and lenders.

Frequently asked questions

Why is my real loan payment different from what this shows?
Real loans often include costs this calculator doesn't model — origination fees, mortgage insurance, property taxes and homeowner's insurance rolled into a mortgage payment, or a variable rate that changes over time. This tool isolates just the principal-and-interest math.

What does "amortization" actually mean?
It's the process of paying off a debt through regular, scheduled payments over time, where each payment covers both interest and a portion of the original amount borrowed (the principal) — as opposed to, say, an interest-only loan where the principal doesn't shrink until a final lump-sum payment.

Does paying extra toward principal save money?
Generally yes — extra payments applied directly to principal reduce the balance interest is calculated on going forward, which can meaningfully shorten a loan and reduce total interest paid. This calculator shows the baseline scheduled payment, not the effect of extra payments.

Is a lower monthly payment always the better deal?
Not necessarily — stretching a loan over more years usually lowers the monthly payment but increases total interest paid over the life of the loan. It's worth comparing total repayment, not just the monthly figure, when weighing loan term options.

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