Loan Calculator
Estimate monthly loan payments, total interest, and total repayment for personal, car, and education loans.
This is an estimate based on a standard amortization formula and constant interest rate.
Loan Calculator – Estimate Your Monthly EMI and Total Interest
This loan calculator helps you estimate your monthly EMI, total interest, and total amount payable before you commit to a personal, car, or education loan. Simply enter the loan amount, annual interest rate, and tenure in years to see how the loan will impact your monthly budget.
How the loan EMI is calculated
The calculator uses the standard EMI formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal amount, r is the monthly interest rate, and n is the total number of monthly installments. The tool then multiplies EMI by n to derive total payment and subtracts the principal to find total interest.
Practical use cases
- Compare EMIs for different loan amounts or tenures.
- Understand how a higher interest rate impacts total interest paid.
- Decide whether a shorter tenure with higher EMI or longer tenure with lower EMI suits you better.
Loan calculator FAQs
Does this include processing fees and other charges?
No. This calculator focuses on principal and interest. Banks may add processing fees, insurance, and taxes that are not part of this estimate.
Can I use this for floating-rate loans?
You can use it as a rough estimate, but floating rates may change over time. For accurate numbers, use the rate and tenure your bank provides.