Loan Calculator
Work out the monthly repayment, total interest and total cost of any personal, auto or student loan.
How the loan payment (EMI) is calculated
The Equated Monthly Installment (EMI) for a fixed-rate loan is:
EMI = P ยท r ยท (1 + r)n / ((1 + r)n โ 1)
Where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
Frequently Asked Questions
Is the Loan Calculator free to use?
Yes, the Loan Calculator is 100% free to use. There are no subscriptions, no sign-ups, and no hidden fees.
Is my data safe when using the Loan Calculator?
Absolutely. All calculations performed by the Loan Calculator happen locally in your web browser. We do not store, track, or transmit your inputs or results to any server.
How accurate is the Loan Calculator?
Our Loan Calculator uses industry-standard formulas and methodology. You can view the exact formula and calculation logic used in the methodology section above to verify the math yourself.
Can I use the Loan Calculator on my mobile phone?
Yes! The Loan Calculator is fully responsive and works seamlessly on all devices including smartphones, tablets, and desktop computers.