Toolbench / Everyday / Loan Calculator
Loan Calculator
Estimate your monthly payment (EMI), total interest and total repayment for any loan.
Loan details
Result
Estimate only. Assumes a fixed rate and equal monthly instalments; your lender's figures may differ due to fees and rounding.
About the loan calculator
A loan (or EMI) calculator turns three inputs — amount borrowed, interest rate and term — into the fixed monthly payment needed to clear the debt, along with the total interest you will pay over its life.
The maths uses the standard amortisation formula, where each equal monthly instalment (EMI) covers both interest and a growing slice of the principal. Longer terms lower the monthly payment but raise total interest.
Use it to compare offers or to see how overpaying shortens a loan. Figures are estimates; real quotes include fees, insurance and rounding that only your lender can confirm.