Loan Calculator
Calculate your monthly loan payments, total interest, and view a complete amortization schedule. Works for personal loans, auto loans, and more.
How Loan Payments Work
This calculator uses the standard amortization formula to calculate your monthly payment. Each payment consists of two parts: principal (the original loan amount) and interest.
In the early months, a larger portion goes toward interest. As you pay down the principal, more of each payment goes toward reducing your balance. This is called amortization.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where P = Principal, r = Monthly interest rate, n = Number of months
About Loan Calculator - EMI & Monthly Payment Calculator
Calculate loan payments, total interest, and see a complete amortization schedule. Works for personal loans, auto loans, and any fixed-rate loan.
Our **Loan Calculator** helps you understand the true cost of borrowing before you sign. Calculate monthly payments, total interest paid, and see exactly how your loan will be paid off over time with our amortization schedule. For home purchases, try our specialized Mortgage Calculator.
Whether you're financing a car, consolidating debt, or taking out a personal loan, knowing your monthly payment is essential for budgeting. Our calculator uses the standard amortization formula to give you accurate results instantly. You can also use our Compound Interest Calculator to see how saving that money instead would grow.
All calculations happen in your browser - no data is stored or transmitted. Adjust the loan amount, interest rate, and term to find a payment that fits your budget.
Key Features
Why Use This Tool?
Related Tools
How to Use
Enter the loan amount you need
Input the annual interest rate
Select the loan term (years or months)
View your monthly payment and total cost