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Loan EMI Calculator
Loan EMI Calculator computes the fixed monthly instalment for a loan from the amount, the annual interest rate and the tenure in years, and shows the total interest you will pay across the whole term alongside the total repayment.
How to use Loan EMI Calculator
- Enter the loan amount, the annual interest rate and the tenure in years.
- Calculate to see the monthly instalment.
- Read the total interest and total payment figures next to it.
Where Loan EMI Calculator is useful
- Comparing a 20-year and a 30-year mortgage before choosing.
- Checking what an extra percentage point of interest costs over the term.
- Planning a car or personal loan repayment budget.
Formats, algorithms and limits
The instalment uses the standard amortising-loan formula with the monthly rate (annual rate divided by twelve) and the number of monthly payments. It assumes the rate stays fixed for the whole term and does not include arrangement fees, insurance, taxes or early-repayment charges.
Troubleshooting and honest limits
- Compare the total interest rather than the monthly instalment: the cheaper monthly figure often costs far more overall.
- Use the same currency you borrow in; the calculation is currency-neutral.
- For a variable-rate loan, run the calculation at both the current and a higher rate to see the range.
Frequently asked questions
Does it include fees and taxes?
No. It models principal and interest only, so add processing fees, insurance and any taxes on top when budgeting.
How is the instalment calculated?
Each month you pay the interest due on the remaining balance plus a slice of the principal, sized so the loan finishes exactly at the end of the term. The tool applies that standard formula directly.
Can I model an overpayment?
Not in this form. Re-run with a shorter tenure to approximate the effect of paying extra each month.
Is the result financial advice?
No. It is an arithmetic estimate for planning. Your lender's schedule is the document that governs the loan.
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Page written and reviewed by the FreeConvertio engineering team on 2026-10-14. Loan EMI Calculator runs entirely in your browser — no uploads, no account and no daily limits.