Loan calculator
Free loan calculator with instant EMI, total interest, and a year-by-year breakdown. Private, runs in your browser, no sign-up, works in any currency.
How to use
- Enter the loan amount. Type the principal you plan to borrow, then pick your currency from the selector so amounts display correctly.
- Add the interest rate. Enter the annual interest rate as a percentage, for example 7.5, exactly as the lender quotes it.
- Set the loan term. Enter how many years you'll repay over. A longer term lowers the monthly payment but raises total interest.
- Read your results. Instantly see the fixed monthly EMI, total interest, and total amount paid over the life of the loan.
- Review the schedule. Scan the year-by-year amortization breakdown to see how each payment splits between principal and interest.
Features
- Instant EMI in any currency. Get your fixed monthly payment the moment you type, with a currency selector so amounts display the way you expect.
- Full interest picture. See total interest and total amount paid alongside the EMI, so the real cost of borrowing is clear at a glance.
- Year-by-year amortization. A breakdown schedule shows how each year's payments split between principal and interest as the balance falls.
- Private and instant. Calculations run entirely in your browser. Nothing you type is uploaded, and results update immediately as you adjust inputs.
- Free with no sign-up. Use it as often as you like with no account, no email, and no cost.
When to use it
- Compare two auto loan offers with different terms to see which has the lower total interest.
- Estimate the monthly EMI on a personal loan before applying so you know it fits your budget.
- Check how much interest you'd save by choosing a 3-year term instead of a 5-year term.
- See how a higher or lower interest rate changes your monthly payment and total cost.
- Plan a general fixed-rate loan repayment and understand the principal-versus-interest split over time.
Is it private?
The loan amount, interest rate, and term you enter are processed locally in your browser and are never uploaded.
Frequently asked questions
Is this loan calculator free to use?
Yes, completely free. There's no account, no email, and no limit on how many calculations you can run.
Is my data private? Does anything get uploaded?
Everything runs locally in your browser. The amounts and rates you enter are processed on your device and never uploaded to any server.
Is this financial advice?
No. It's an educational planning tool only. It doesn't account for your full situation, lender fees, or insurance, so confirm any real numbers with your lender or a qualified advisor.
How is the monthly payment (EMI) calculated?
It uses the standard amortizing loan formula: EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12), and n is the number of monthly payments (years times 12).
What is an amortization schedule?
It's a breakdown of your payments over time. Early on, more of each payment goes to interest; as the balance shrinks, more goes to principal. The year-by-year schedule shows that shift.
Can I use it for a mortgage?
It handles the core principal-and-interest math, but it isn't a mortgage-specific tool. It doesn't include property taxes, homeowners insurance, or PMI, so a mortgage estimate would be incomplete.
Does it work in my currency?
Yes. Use the currency selector to display the EMI, total interest, and totals in your preferred currency. The math is the same regardless of currency.
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