Free. No Sign-Up Required. No Limits. Read More
Loan Calculator
A tool to calculate loan payments and interest.
What is a Loan Calculator?
A Loan Calculator determines the Equated Monthly Installment (EMI) based on loan amount, interest rate, and repayment tenure. It helps borrowers understand how much they need to pay every month and how interest impacts total repayment over time.
How Does the Loan Calculator Work?
The calculator uses standard financial formulas to compute EMI and loan repayment schedules. Users simply enter loan details and instantly receive payment estimates.
- Loan Amount (Principal)
- Annual Interest Rate
- Loan Tenure (Months or Years)
- EMI Amount
- Total Interest Payable
- Total Repayment Amount
Formula to Calculate Loan EMI
EMI = [P × R × (1 + R)N] / [(1 + R)N − 1]
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
- N = Total Number of Monthly Payments
This formula calculates a fixed monthly installment covering both principal and interest payments.
How to Use the Loan Calculator?
- Enter the loan amount you want to borrow.
- Add the applicable interest rate.
- Select the loan tenure.
- Click the Calculate button.
- View EMI amount, interest payable, and total repayment instantly.
Benefits of Using a Loan Calculator
- Instant EMI calculation
- Helps compare loan options
- Improves budgeting and financial planning
- Shows total interest cost before borrowing
- Assists in selecting ideal tenure
- Reduces financial risk
Types of Loans You Can Calculate
- Home Loan
- Personal Loan
- Car Loan
- Education Loan
- Business Loan
- Gold Loan
Why Use an Online Loan Calculator?
Loan repayment planning is essential before taking financial commitments. An online Loan Calculator allows borrowers to test multiple scenarios, adjust tenure or loan amount, and make informed borrowing decisions quickly and accurately.
Read this also
