Loan Calculator

A loan calculator (EMI calculator) computes your monthly repayment installment (EMI), total interest paid, and total amount repayable based on the loan principal, annual interest rate, and tenure in months or years.

EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1] where P = principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = number of monthly installments.

Key Features

• Calculates EMI using the standard reducing balance formula.
• Shows total interest paid and total repayment amount.
• Supports any loan type: home loan, personal loan, car loan, or business loan.
• Works with any currency — just enter the principal amount.
• Runs entirely in your browser — no financial data is sent anywhere.

How to Use the Tool

1. Enter the loan principal (the amount you are borrowing).
2. Enter the annual interest rate (e.g. 8.5 for 8.5%).
3. Enter the loan tenure in months or years.
4. The EMI, total interest, and total repayment are calculated instantly.

Core Benefits

• Compare loan offers by changing the interest rate — even a 0.5% difference significantly affects total interest.
• Plan your budget by knowing the exact monthly EMI before taking a loan.
• Understand how much of your repayment is interest vs principal.

Common Use Cases

• Calculating monthly EMI for a home loan before applying.
• Comparing personal loan offers from different banks.
• Estimating total interest on a car loan over 3 or 5 years.
• Planning business loan repayments.
• Understanding how prepayment affects remaining tenure.

Pro Tips

• A longer tenure reduces EMI but increases total interest paid. Shorter tenure means higher EMI but lower total cost.
• Even a 1% difference in interest rate on a large home loan can save lakhs over 20 years.
• Use the calculator to find the maximum loan amount you can afford based on your budget EMI.