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Loan / EMI Calculator
Work out your monthly loan payment, total interest and the true cost of borrowing — with a clear year-by-year repayment table. Free and instant.
Year-by-year repayment
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| Enter your loan details above. | |||
How to use the loan calculator
- Enter the loan amount you plan to borrow.
- Type the annual interest rate and the term in years.
- Your monthly payment, total interest and total payable update instantly, with a yearly repayment breakdown below.
About loan repayments
Most loans are repaid in equal monthly instalments. Each payment covers that month's interest first, and the rest chips away at the principal. Early on, a bigger share goes to interest; towards the end, most of each payment clears the principal.
This calculator uses the standard amortising-loan formula lenders use, so the monthly figure matches what a bank would quote for the same rate and term — before any fees.
Loan FAQs
How is the monthly loan payment calculated?
It uses the standard amortising-loan formula: the monthly rate times one plus the rate to the power of months, divided by one plus the rate to the power of months minus one, all times the loan amount.
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing; the APR also includes fees and charges, so it is usually slightly higher. This calculator works with the plain interest rate.
Does a longer loan term mean more interest?
Yes. Stretching a loan over more years lowers the monthly payment but increases the total interest, because you pay interest for longer.
Are the results a loan offer?
No — this is an estimate for planning. Real loans depend on your credit score, fees and the lender's exact terms.