🏦 Loan / EMI Calculator
Calculate monthly payment from loan amount, rate, and term.
About this tool
This calculator estimates the fixed monthly payment (sometimes called EMI) on a standard amortizing loan — personal loans, auto loans, or any loan with equal monthly payments over a set term.
If you're specifically financing a home rather than a personal or auto loan, the Mortgage Calculator adds property tax and insurance into the monthly figure, which this general-purpose tool doesn't.
Worked example
Borrow $15,000 at 7% for 4 years and the monthly payment comes out to roughly $359, with total interest of about $2,229 over the life of the loan — useful to see before you sign anything.
How to use it
- Enter the loan amount you're borrowing.
- Enter the annual interest rate as a percentage.
- Enter the loan term in years and press Calculate.
Tips
- A lower rate or shorter term both reduce total interest paid, but a shorter term raises the monthly payment.
- This assumes a fixed rate for the whole term — variable-rate loans will differ.
- For a home loan specifically, our Mortgage Calculator also factors in tax and insurance.
FAQ
Does this include fees?
No — this is principal and interest only. Add any origination or processing fees separately.
What's EMI?
Equal Monthly Installment — the same fixed amount paid every month until the loan is paid off.
Can I use this for a car loan?
Yes, it works for any fixed-rate, fixed-term loan with equal monthly payments.