Loan / EMI Calculator

Work out your monthly payment, total payment and total interest from a loan amount, annual interest rate and term. Everything runs in your browser — your figures are never sent anywhere and nothing is stored.

Monthly payment —
Total payment —
Total interest —

How to use the loan calculator

  1. Enter the loan amount (the principal you are borrowing).
  2. Enter the annual interest rate as a percentage — use 0 for an interest-free loan.
  3. Enter the term and choose years or months.

The results update live. The monthly payment is calculated with the amortization formula P × r × (1 + r)^n / ((1 + r)^n − 1), the total payment is that amount times the number of months, and the total interest is the total payment minus the loan amount.

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Frequently asked questions

What is EMI?

EMI stands for Equated Monthly Installment — the fixed amount you pay each month until a loan is fully repaid. Each payment covers the interest due for that month plus a slice of the principal, so the balance falls to zero by the end of the term.

How is the monthly payment calculated?

This tool uses the standard amortization formula: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months.

What happens when the interest rate is 0%?

With a 0% rate there is no interest, so the monthly payment is simply the loan amount divided by the number of months (P / n). The total payment then equals the loan amount and the total interest is zero.

What is the difference between total payment and total interest?

The total payment is the monthly payment multiplied by the number of months — everything you hand over across the life of the loan. The total interest is that total minus the original loan amount, i.e. the cost of borrowing.

Is my data sent anywhere?

No. The calculation runs entirely in your browser — your figures are never uploaded to a server and nothing is stored. It is safe to use with private numbers.

Can I enter the term in months instead of years?

Yes. Use the unit selector next to the term to switch between years and months. The calculator converts years to months internally before applying the formula.