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Calculate monthly payments, total interest and full amortization for any loan.
A loan calculator shows you exactly what your monthly payment will look like before you sign anything, based on the loan amount, interest rate, and repayment term. Instead of relying on a bank's quote or a rough mental estimate, you can plug in different numbers and instantly see how the monthly EMI, total interest, and total repayment change. It's the kind of check most people do before committing to a personal loan, appliance financing, or any fixed-term borrowing.
Loan offers from different lenders can look confusing when the interest rate, tenure, and fees are all bundled differently. This tool exists so you can compare apples to apples — enter the same three numbers for any offer and see the real monthly cost side by side, without needing a finance background.
The calculator uses the standard reducing-balance loan formula, where each monthly payment covers part interest and part principal, and the interest portion shrinks as the balance goes down over time. For example, a $10,000 loan at 10% annual interest over 3 years works out to a monthly payment of roughly $323, with total interest around $1,600 over the full term — numbers that are easy to miss if you're only looking at the monthly figure a lender advertises.
It uses the standard EMI formula based on principal, interest rate, and loan term, which accounts for compounding interest on the reducing balance each month.
Reducing balance interest (used here) is calculated on the remaining loan balance, while flat rate interest is calculated on the full original amount — reducing balance usually results in less total interest.
No, this calculates pure principal and interest. Processing fees, insurance, or other charges from your lender would be additional.
Yes, it works for personal loans, appliance financing, or any fixed-rate, fixed-term loan — for mortgages or car loans specifically, check our dedicated calculators.
In a reducing-balance loan, interest is highest when the balance is highest, so early payments are weighted more toward interest and less toward principal.
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