Loan Calculator

About this Calculator

Use our free Loan Calculator to calculate EMI, total interest and total payment for any type of loan.

How Loan Calculator Works

A Loan Calculator helps you calculate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. It also shows the total interest payable and total amount you will repay over the loan period.

Loan EMI Formula

EMI = [ P × R × (1 + R)^N ] / [ (1 + R)^N − 1 ]

Where:
P = Loan Amount (Principal)
R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
N = Loan Tenure in Months

Loan EMI Calculation Example

If you take a loan of ₹5,00,000 at an interest rate of 9% per annum for a tenure of 10 years, your monthly EMI will be approximately ₹6,334. The total interest payable will be around ₹2,60,000.

Frequently Asked Questions

Is this loan calculator free?
Yes, this loan calculator is completely free to use.

Can I use this calculator for any type of loan?
Yes, it works for home loans, car loans, personal loans, gold loans, and loans against property.

Does this calculator show total interest?
Yes, it shows monthly EMI, total interest payable, and total repayment amount.

Is EMI calculated monthly?
Yes, EMI calculations are based on monthly compounding.