Finance calculator

Loan Calculator for Payments

Calculate monthly loan payment, total interest, and repayment total for a fixed-rate loan.

FormulaPayment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

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.

FAQ6 common questions for this calculator.

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?+

For the Loan Calculator, 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?+

Enter the money values, rates, dates, quantities, or assumptions requested by the form. Keep every amount in the same currency or business period before comparing the Loan Calculator result.

How accurate is the Loan Calculator?+

Loan Calculator is accurate for the rates, amounts, dates, and rules entered. It uses the Loan payment formula shown on this page. Real products can differ because of fees, taxes, contract terms, or changing official thresholds.

What should I check before using the Loan Calculator result?+

For the Loan Calculator, check the entered amounts, rates, dates, and rules, then compare the Loan payment formula and worked example with the contract or source you will rely on. Fees, tax year, currency, and payment timing can change the final decision.

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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. 1

    Enter your details

    Enter the values for the loan calculator scenario you want to check.

  2. 2

    Check the calculation

    Review the result alongside the loan payment formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1).

  3. 3

    Compare scenarios

    Change one or more inputs to see how they affect the loan Calculator result before you use the estimate.