Loan/EMI Calculator

Calculate loan EMI, total interest and payment schedule online free — see monthly breakdown for any loan amount and interest rate.

Last updated: 10 October 2026

Calculate EMI, total interest and total payment for any loan. A $200,000 loan at 6.5% over 30 years returned an EMI of $1,264.14, total interest of $255,088.98 and a total of $455,088.98 — matching the standard amortization formula.

Loan Calculator

Worked Examples

Verified loan

  • $200,000 at 6.5% for 30 years → EMI $1,264.14 per month
  • Total interest over the term: $255,088.98
  • Total repayment: $455,088.98

Reading the schedule

  • Early payments are mostly interest; principal accelerates in the second half.
  • A 1% rate drop on that loan saves tens of thousands over 30 years — re-run the numbers when rates move.
  • Extra principal payments shorten the term faster than they cut the monthly payment.

Video Guide

About Loan/EMI Calculator

Calculate loan EMI (Equated Monthly Installment), total interest, and payment schedule. Supports home loans, car loans, and personal loans. Enter loan amount, interest rate, and tenure to see your monthly payment breakdown. We tested with a $200,000 loan at 6.5% for 30 years — the calculator returned an EMI of $1,264.14, total interest of $255,088.98, and total payment of $455,088.98, matching the standard amortization formula.

Limits: Uses flat amortization — does not model variable-rate loans or adjustable-rate mortgages; Does not account for prepayments, lump-sum payments, or loan moratorium periods; Processing fees, insurance, and taxes are excluded from calculations; Results are estimates only — actual lender terms may differ due to compounding methods

Who Uses This Tool

  • A homebuyer comparing monthly payments for a $350,000 mortgage at 6% vs 7% interest over 30 years
  • A car shopper deciding between a 48-month and 60-month auto loan on a $25,000 vehicle
  • A student calculating the total interest cost on a $50,000 personal loan at 9% over 5 years

Key Features

  • Monthly EMI calculation
  • Total interest breakdown
  • Payment schedule
  • Supports any interest rate
  • Side-by-side comparison of different loan terms

How to use Loan/EMI Calculator

  1. Enter the loan amount.
  2. Enter the annual interest rate.
  3. Enter the loan tenure in months.
  4. See EMI, total interest, and total payment.

Disclaimer: This calculator provides estimates for informational purposes only. Actual loan payments, interest rates, fees, and terms may vary by lender. Always confirm the final terms with your financial institution.

How It Compares

Unlike Bankrate's loan calculator which requires entering personal information and shows lender ads, this tool provides instant calculations with no data collection. It also shows total interest and payment schedule — features some free calculators hide behind sign-up walls.

Privacy & Security

Because processing happens directly in your browser, your files and input are not uploaded to our servers.

Written and checked by Mohammad Sohail

EMI and interest figures re-checked on 10 October 2026 against the standard amortization formula.

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Frequently Asked Questions

What is EMI?

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan over a specified period.

Is this calculator accurate?

This calculator provides estimates for informational purposes only. Actual loan payments, interest rates, fees, and terms may vary by lender. Always confirm the final terms with your financial institution.

Does this include processing fees?

No. This calculator only calculates principal and interest. Processing fees, insurance, and other charges are not included.

What happens if I pay extra each month?

Extra payments reduce your principal faster, which lowers total interest paid. This calculator shows the standard schedule without extra payments — consult your lender for a custom amortization.

How does changing the interest rate affect my payment?

Even small rate changes have large effects. A 0.5% increase on a $300,000 30-year loan adds roughly $90/month and $32,000 in total interest.

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