About this loan calculator
This free loan calculator answers the question most people care about: what will the monthly payment be? Enter how much you want to borrow, the annual interest rate the lender quoted, and how many years you have to pay it back. It instantly shows your fixed monthly instalment (the EMI), the total amount you will repay over the life of the loan, and how much of that is interest. It works for car loans, mortgages, student loans and personal loans. The maths runs entirely in your browser, so none of your figures are sent anywhere. Results are estimates — actual offers may include fees, insurance or taxes.
Frequently asked questions
- How is the monthly payment worked out?
- Using the standard amortising formula — your loan plus interest spread evenly across every month of the term.
- What does EMI mean?
- Equated Monthly Instalment — the fixed amount you pay each month. A loan calculator and an EMI calculator are the same thing.
- Are fees and insurance included?
- No — only the amount, rate and term. Treat the result as an estimate before fees.