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Loan & EMI Calculator

Monthly payment calculator for personal, auto, student and business loans. Multi-currency support.

Monthly EMI
$500.95

Currency: USD $ (change in header)

Monthly payment (EMI)
$500.95
Total payment
$30,056.92
Total interest
$5,056.92

Amortization schedule

  • 100% private

    All math runs in your browser. Nothing leaves your device.

  • Formula-verified

    Each calculator is unit-tested against authoritative sources.

  • Instant results

    Static-rendered pages. Sub-second loads on any device.

  • Works offline

    Visit once and it keeps working without an internet connection.

How to use the Loan & EMI Calculator

  1. 1

    Enter your inputs

    Fill in the required fields at the top of the loan / emi calculator. Each input shows a default placeholder so you can see the expected format and units before you type.

  2. 2

    Adjust assumptions and options

    Use the toggles, sliders and dropdowns to tailor the calculation to your situation — currency, country, time period, advanced options and any optional fields all change the result in real time.

  3. 3

    Review the result

    The result card updates instantly as you type. Read the headline number, then check the breakdown, chart and any per-period schedule to understand how the inputs combined to produce the answer.

  4. 4

    Compare scenarios

    Change one input at a time to see how sensitive the result is to that variable. This is how you build intuition: small changes that move the answer a lot are the levers that matter.

  5. 5

    Share or save your result

    Copy the shareable link to send the exact scenario to someone else, or use your browser to print or save the page. The URL preserves every input so the recipient sees the same answer you do.

Frequently Asked Questions

  • EMI (Equated Monthly Installment) is the fixed payment you make each month, consisting of both principal and interest. It's calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n ? 1).

  • Each month, interest equals the remaining balance times the monthly rate. The remainder of your EMI goes to principal, reducing the balance. Early in the loan, most of the payment is interest.

  • Most loans allow prepayment, though some carry prepayment penalties. Paying extra principal reduces total interest significantly. Check your loan terms before making large prepayments.

  • Fixed rates stay the same for the loan term. Variable (floating) rates change with a benchmark index, so your EMI may rise or fall over time.

  • Longer terms reduce monthly payments but increase total interest paid. A 5-year auto loan vs 7-year on $30,000 at 7%: $594/mo vs $453/mo, but $5,634 vs $8,041 total interest.

  • Most lenders prefer 670+ for competitive rates. Below 580, options narrow significantly and rates become much higher. Improving your score before applying can save thousands.

  • Generally no — personal loan interest is not tax deductible. Mortgage interest, student loan interest and business loan interest may be deductible (jurisdiction-dependent).

  • Yes — select your currency from the dropdown. The math is the same; only the display changes.

  • Personal loans: 6%–36%. Auto loans: 4%–20%. Student loans (federal US): 5%–8%. Home equity loans: 8%–12%. Rates vary by credit and lender.

  • Consolidation can lower your blended rate and simplify payments. It's worthwhile only if the new rate is meaningfully lower than your weighted average existing rate, and you avoid running up new debt.

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