Loan Calculator
Estimate monthly payments and total interest for any personal, auto or student loan.
Loan / EMI calculator
Estimates only — actual loan terms, fees and rounding from your lender may differ. All calculations run privately in your browser.
This free loan calculator works out the monthly payment (EMI), total interest, total cost and exact payoff time for any personal, auto, student or general loan. Enter the loan amount, annual interest rate and term, then see a complete month-by-month amortization schedule showing how each payment splits between principal and interest. Add an optional extra monthly payment to see how much interest you save and how many months sooner the loan is paid off. Everything is calculated instantly in your browser — your numbers are never uploaded, and there are no ads or signups.
Frequently Asked Questions
How is the monthly loan payment (EMI) calculated?
The standard amortization formula is EMI = P·r·(1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. For a 0% loan the payment is simply the principal divided by the number of months.
What is an amortization schedule?
It is a month-by-month (or year-by-year) breakdown of every payment, showing how much goes to interest, how much reduces the principal, and the remaining balance. Early payments are mostly interest; later ones are mostly principal. Use the By month / By year toggle to switch views.
How does adding an extra monthly payment help?
Any extra amount goes straight to the principal, so the balance falls faster, less interest accrues and the loan is paid off sooner. The calculator recomputes the shortened schedule and shows exactly how much interest you save and how many months you cut off the term.
Can I use this for personal, auto or student loans?
Yes. It is a general-purpose loan and EMI calculator that works for personal loans, car loans, student loans and most fixed-rate installment loans. Just enter the amount, annual rate and term in years or months.
Does it support different currencies?
Yes — pick from 12 currencies (USD, EUR, GBP, INR, JPY and more). The currency setting only changes how results are displayed; it does not affect the math, so the calculation is identical for every currency.
Are my loan figures private?
Completely. The entire calculation runs in your browser using JavaScript. Nothing you type is sent to a server, stored or shared, and there are no accounts, trackers or ads.
How accurate are the results?
The formulas are exact for a standard fixed-rate amortizing loan. Results are estimates because real loans may include fees, insurance, different compounding or rounding rules set by your lender, so treat the output as a close guide rather than a binding quote.