Loan Calculator
Enter the loan amount, annual interest rate, and term in years, and this calculator estimates your monthly payment (EMI), the total interest, and the total amount you'll repay. Free, instant, in your browser.
Monthly payment
$400.76
Total interest
$4,045.54
Total repaid
$24,045.54
Frequently asked questions
It uses the standard amortization (EMI) formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual ÷ 12 ÷ 100), and n is the number of monthly payments. This tool does the math for you.
EMI stands for Equated Monthly Installment — the fixed amount you pay each month, covering both interest and principal, until the loan is paid off.
It gives a close estimate using the standard formula and a fixed rate. Your actual payment can differ with fees, insurance, or a variable rate, so treat it as a guide, not a quote.
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