Loan Calculator
Calculate your monthly loan payment, total interest, and total repayment for a personal loan, auto loan, or any fixed-rate loan. Enter the amount, interest rate, and term to see the result instantly.
Disclaimer: Results are estimates for planning only and are not financial advice. Interest rates, fees, taxes, and lender terms vary. Check with your bank or a qualified financial adviser before borrowing or investing.
Enter your loan details and click Calculate.
How to use
- Enter the loan amount you plan to borrow.
- Enter the annual interest rate as a percentage, for example 8.5.
- Choose the loan term in years.
- Click Calculate to see the monthly payment, total interest, and total amount repaid.
- Use Copy result to save the summary for comparison with lender offers.
Frequently asked questions
How is the monthly loan payment calculated?
It uses the standard amortizing loan formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly payments.
Does this include fees or taxes?
No. The result covers principal and interest only. Origination fees, insurance, and taxes can raise the real cost, so ask your lender for the full schedule.
What happens if I pay extra each month?
Extra payments reduce the principal faster, which cuts total interest and can shorten the loan. This calculator shows the standard schedule without extra payments.
Is a lower rate or a shorter term better?
A lower rate always helps. A shorter term raises the monthly payment but usually saves a large amount of interest over the life of the loan.