🏦Loan / EMI Calculator
Calculate your monthly payment (EMI), total interest, and total repayment — with a full amortization schedule and a principal-vs-interest breakdown chart. Free and instant.
Principal vs Interest Per Payment
Amortization Schedule
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Free Loan Calculator Online
Working out a loan? Our free Loan / EMI Calculator shows you the full cost the moment you enter your figures. As a fast and reliable loan calculator, it takes your loan amount, interest rate, and term and instantly calculates your monthly payment (EMI), the total interest you'll pay, and the total amount repaid—so you know exactly what a loan really costs before you commit.
But it does more than a single figure. See a complete amortization schedule showing how each payment splits between principal and interest and how your balance falls over time, plus a clear chart of principal versus interest across the term. Whether you're comparing a personal loan, a car loan, or a mortgage, you can adjust the numbers and instantly see the impact.
Simply enter your loan details to see the results instantly. No sign-up, no downloads, no limits—just clear numbers whenever you need them.
About the Loan / EMI Calculator
Key features
Monthly EMI
Calculates the fixed monthly payment using the standard amortizing-loan formula, so you know what leaves your account each month.
Total interest & total repayment
Shows the full cost of borrowing — the total interest paid over the term and the grand total you repay (principal + interest).
Full amortization schedule
A month-by-month table breaking each payment into principal paid, interest charged, and remaining balance — so you can track exactly how your debt reduces.
Principal vs interest chart
A responsive SVG chart showing how the principal and interest portions of each payment shift over time — from mostly interest early on to mostly principal by the end.
How loan amortization works
An amortizing loan has a fixed monthly payment calculated so that equal instalments over the term pay off both the interest and the outstanding principal, leaving a zero balance at the end.
The EMI formula is: EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments.
Each month, interest is charged on the remaining balance (balance × r). The rest of the fixed EMI goes toward reducing the principal. Because the balance falls each month, the interest portion shrinks and the principal portion grows — a pattern visible in both the amortization table and the chart.
At 0% interest the formula simplifies to EMI = P ÷ n — a straight equal split of the principal across all periods.
Who it's for
Personal loan borrowers
Estimate the monthly cost and total interest before applying, and compare different amounts or terms at a glance.
Car buyers
Work out the monthly repayment on a car loan for different deposit amounts, rates, and terms to find what fits your budget.
Home loan planners
Estimate mortgage repayments and see how the term length dramatically changes the total interest paid over the life of the loan.
Students & learners
Understand how loan amortization works by adjusting variables and watching the schedule and chart update in real time.
Limitations
The calculator assumes a fixed interest rate for the full term and does not model fees, insurance, offset accounts, variable rates, balloon payments, or interest-only periods. Results are estimates for planning purposes — your lender's offer will include additional costs and conditions that affect the true cost of your loan.
Frequently Asked Questions
How does the loan calculator work?
Enter your loan amount, annual interest rate, and term, and the tool instantly calculates your monthly payment (EMI), the total interest, and the total amount you'll repay—then shows the full amortization schedule and a principal-vs-interest chart.
What is EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay each month over the loan term. Each EMI covers both interest (charged on the outstanding balance) and a portion of the principal, so the loan is fully repaid by the end of the term.
Is this calculator free to use?
Yes, it's completely free with no sign-up, downloads, or limits. Run as many loan scenarios as you like — change the amount, rate, or term and see the results update instantly.
What is an amortization schedule?
It's a month-by-month table showing how each payment is split between interest and principal, along with the remaining loan balance after each payment. It lets you see exactly how your debt reduces over the life of the loan.
Why does more of my payment go to interest early on?
With an amortizing loan, interest is charged on the outstanding balance, which is highest at the start. As you repay principal and the balance falls, the interest portion of each payment shrinks and the principal portion grows. By the end of the loan, nearly all of each payment is principal.
Can I use it for different loan types?
Yes. It works for any standard amortizing loan — personal loans, car loans, and home loans — as long as you have the loan amount, a fixed annual interest rate, and a set term. It isn't designed for interest-only, balloon, or variable-rate loans.
Does it account for fees or changing rates?
The calculation assumes a fixed interest rate and doesn't include origination fees, processing charges, or insurance, which vary by lender. Treat the result as an estimate of the core repayment — your lender's offer will include any additional costs.
Is my data stored anywhere?
No. Your figures are processed directly in your browser and are never stored or sent to a server, keeping your information completely private. Close the tab and the data is gone.
Does it work on mobile devices?
Yes, the calculator is fully responsive and works on smartphones, tablets, and desktops. The amortization table scrolls horizontally on small screens and the chart scales to fit — nothing overflows or requires sideways scrolling of the page.
Can I rely on this for a financial decision?
It's a helpful estimate for planning and comparing loan options, but actual loan terms, rates, and fees come from your lender. This tool is for general information only, not financial advice — check exact figures with the lender before committing to any loan.