About This Tool
The Loan Calculator determines your Equated Monthly Installment (EMI) for any type of loan — personal, auto, education, or business. Enter the principal amount, annual interest rate, and loan tenure to get instant, accurate results.
The calculator uses the standard amortization formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly installments. It shows your monthly payment, total amount paid over the loan term, and total interest cost.
Use this tool to compare different loan offers side by side. Even a small difference in interest rate or tenure can significantly change your total cost. Understanding these numbers before signing gives you leverage in negotiations and helps avoid overextending your budget.