Finance calculator
Loan Calculator
Calculate monthly loan payment, total interest, and repayment total for a fixed-rate loan.
Formula
Loan payment formula
Loan calculations are estimates and may not include fees, insurance, taxes, or variable-rate changes.
Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
For a 100,000 loan at 7.5% for 5 years, use monthly rate 0.075 / 12 and 60 payments.
FAQs
Is this loan calculator the same as an EMI calculator?+
It uses the same fixed-payment formula, but it is worded for general loans such as personal, auto, and education loans.
Can I compare different tenures?+
Yes. Change the tenure to see how the monthly payment and total interest move in opposite directions.
How does the Loan Calculator calculate the result?+
It uses the Loan payment formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). For a 100,000 loan at 7.5% for 5 years, use monthly rate 0.075 / 12 and 60 payments.
What information do I need to use the Loan Calculator?+
Calculate monthly loan payment, total interest, and repayment total for a fixed-rate loan.
How accurate is the Loan Calculator?+
Loan Calculator applies the formula and assumptions shown on this page. Results may be rounded for readability, so verify changing rates, thresholds, medical guidance, or legal rules with the cited source or a qualified professional.
What should I check before using the Loan Calculator result?+
Check that the units, dates, rates, and assumptions match your situation. Change one input at a time to understand which values have the largest effect on the result.
Finance guide
How to use the Loan Calculator
Calculate monthly loan payment, total interest, and repayment total for a fixed-rate loan. The page also explains the loan payment formula and shows a practical example: For a 100,000 loan at 7.5% for 5 years, use monthly rate 0.075 / 12 and 60 payments.
- 1
Enter your details
Enter the values for the loan calculator scenario you want to check.
- 2
Check the calculation
Review the result alongside the loan payment formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1).
- 3
Compare scenarios
Change one or more inputs to see how they affect the loan Calculator result before you use the estimate.
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