A free online loan calculator. Enter principal amount, annual interest rate, and loan term to calculate monthly payments (EMI), total interest, and total repayment. Includes an amortization table showing principal and interest for each month.
Enter the loan amount.
Set the annual interest rate (%).
Enter the loan term in years.
View monthly payment, total interest, and amortization.
EMI (Equated Monthly Installment) is the fixed monthly payment a borrower makes to a lender. It includes both principal and interest, calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1).
Interest is calculated on the remaining principal each month. Early payments are mostly interest; later payments are mostly principal. This is called amortization.
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