Loan & EMI Calculator
Calculate your monthly payment, total interest, and full amortization schedule
Monthly Payment
$665.30
This calculator provides estimates for informational purposes only. Actual loan terms may vary — consult your lender for exact figures.
Enter your loan amount, annual interest rate, and term to instantly see your monthly EMI (equated monthly instalment), the total interest you’ll pay over the life of the loan, and the total amount payable.
Works for mortgages, car loans, personal loans, student loans, or any fixed-rate instalment loan. The amortization schedule shows exactly how each payment is split between principal and interest month by month.
All calculations use the standard EMI formula and run entirely in your browser — no data is sent anywhere.
How to Use
- 1Enter your purchase price and down payment (or toggle to enter the loan amount directly), interest rate, and loan term.
- 2Your monthly payment, total interest, and total amount payable calculate instantly.
- 3Scroll down to see the full amortization schedule — every monthly payment broken down into principal and interest.
Frequently Asked Questions
- What is an amortization schedule?
- A month-by-month breakdown of every payment over your loan term, showing exactly how much goes toward principal (reducing your balance) vs. interest (the lender’s fee) each month.
- Does this work for mortgages, car loans, and personal loans?
- Yes — the EMI formula works for any fixed-rate installment loan regardless of type.
- How accurate are the results?
- Very accurate for fixed-rate loans. Variable-rate loans change over time and can’t be calculated this way. Always confirm exact figures with your lender before making financial decisions.
- What does EMI stand for?
- Equated Monthly Installment — the fixed amount you pay each month that covers both principal repayment and interest, calculated so the loan is fully paid off at the end of the term.