Loan Calculator — Monthly Payment & Amortization Schedule

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It includes both the principal and interest components.

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate / 12 / 100), and n is the number of months.

Yes. The calculator works with any currency — just enter your loan amount in your local currency. No currency symbol is assumed.

No. All calculations happen entirely in your browser. Nothing is sent to any server.

An amortization schedule shows the breakdown of every monthly payment into the principal repayment and interest charge, plus the remaining loan balance. Early payments are mostly interest; later payments are mostly principal.

Monthly payment = [P × r × (1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of months.

Loan term and loan tenure mean the same thing — the length of time over which you repay the loan. 'Term' is commonly used in the US, UK, and Australia; 'tenure' is commonly used in India and South Asia.

Yes. A shorter term means higher monthly payments but significantly less total interest paid. For example, a $10,000 loan at 8% over 3 years costs about $1,267 in interest; over 5 years it costs about $2,166.

Yes. The calculator works with any currency — enter your loan amount in your local currency and the results will be in that same currency.