Loan / EMI Calculator
Monthly payment, total interest and full amortisation.
Loan Calculator computes the monthly payment for a loan from the principal, annual interest rate and term, then shows total interest, total cost, and a full amortisation schedule split between interest and principal every month. It uses the standard annuity formula and runs entirely in your browser.
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Runs entirely on your device. No file or text you enter here is uploaded. How to verify it.
How to use Loan / EMI Calculator
- Enter the loan amount, annual rate and term.
- Read the monthly payment and total interest.
- Open the amortisation table or export it as CSV.
Questions about Loan / EMI Calculator
Which formula is used?
The standard amortising annuity:
P × r / (1 − (1 + r)^−n), where r is the monthly rate and n the number of payments. It is what banks use for a fixed-rate instalment loan.Why is the total interest so much higher than the rate suggests?
Because interest accrues on the outstanding balance for the whole term. A 30-year loan at 6% costs roughly 116% of the principal in interest — the rate is annual, the exposure is decades long.
Does it account for extra payments?
Yes, as a recurring amount. Add an extra monthly payment and the schedule recomputes, showing how many months and how much interest it saves. Extra payments early in the term save dramatically more than the same amount later.
Can I get the amortisation schedule out as a file?
Yes — the table downloads as CSV, which opens in Excel, Numbers or Google Sheets. The file is assembled in the page from the figures you typed, so no loan details are sent to a server to produce it.
Does it handle interest-only or balloon loans?
No. It models a fixed-rate amortising instalment loan, which covers most car loans, personal loans and standard repayment mortgages. Interest-only periods, balloon payments and rates that reset part-way through are not modelled, and a schedule from here would be wrong for them.
Is Loan / EMI Calculator really free, with no limits?
Yes. There is no account, no daily cap, no file-size tier and no watermark, because there is no server cost to recover. The site is funded by clearly disclosed partner recommendations on the Partners page, never by metering the tools.
Are my files or text uploaded when I use Loan / EMI Calculator?
No. Everything is processed by JavaScript running in your browser, on your device. You can verify it: open your browser's developer tools, switch to the Network tab, and use the tool. You will see no request carrying your data — because there is nowhere for it to go.