Enter the total amount you want to borrow
Annual percentage rate (APR) for the loan
Duration of the loan in years

About Loan Calculator

How It Works

Our loan calculator uses the standard EMI formula to compute monthly payments based on principal amount, interest rate, and loan duration.

Payment Breakdown

See exactly how much of each payment goes toward principal vs interest throughout the loan term.

Financial Planning

Use this tool to compare different loan options and make informed borrowing decisions for better financial planning.

Common Loan Types

Home Loan

Calculate mortgage payments for buying a house. Typical terms: 15-30 years, 3-6% interest.

Auto Loan

Plan your car purchase with accurate monthly payment calculations. Terms: 3-7 years, 4-8% interest.

Student Loan

Calculate education loan payments and plan your repayment strategy. Terms: 10-25 years, 3-7% interest.

Personal Loan

Plan personal loan payments for various needs. Terms: 1-7 years, 6-36% interest based on credit.

EMI Calculation Formula

EMI Formula: P × r × (1 + r)^n / ((1 + r)^n - 1)

Where:
P = Loan Principal Amount
r = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n = Loan Term in Months (Years × 12)
Example Calculation:
Loan: $250,000 | Rate: 5.5% | Term: 15 years
Monthly Rate: 5.5% ÷ 12 ÷ 100 = 0.004583
Months: 15 × 12 = 180
EMI = $250,000 × 0.004583 × (1.004583)^180 ÷ ((1.004583)^180 - 1)
EMI = $2,042.71