What is a Loan Calculator?

A Loan Calculator (also called an EMI Calculator or Loan Repayment calculator) is a free online tool that you can use to find the estimated monthly EMI, the total interest cost, and total repayment amount. All you need to do is input the loan amount, interest rate (a common practice is to input the annual interest rate) and tenure. The calculator calculates your monthly loan EMI and total obligation right before your eyes.

To put it in context for you, a Loan Calculator is a great tool for obtaining clarity on your personal loan, home mortgage, auto loan, education loan and/or business financing obligations. Instead of applying confusing formulas manually, you will avoid calculating interest and payments with improved speed and accuracy through online calculators as these programs present the information in a timely, simple, and concise format. All you need to do is input the lending amount, interest rate, and loan tenure, and then you have the clarity to make more informed decisions about borrowing.

Who Should Use a Loan Calculator?

• Home buyers - Helps to get an estimated EMI for housing loans to help the prospective buyer finalize the deal on a property.
• Car shoppers - It is easy to manage repayments of your auto loans.
• Business owners - Help forecast future cash flow requirements for a business loan.
• Students & parents - Understand EMIs for education loans.
• Comparison shoppers - Compare various loan offers made by other banks easily.

If you are looking for a Loan EMI Calculator, Mortgage Calculator, or Business Loan Repayment Tool, then this tool is a helpful tool to help you gain clarity in your financial planning.

How Does the Loan Calculator Work?

The Loan Calculator uses the standard EMI formula to help calculate your repayment schedule.

You enter:

• - Loan amount (Principal)
• - Interest rate (Annual %)
• - Loan tenor (Months/Years)
• - Optional - any processing fees or down payment amount

You receive:

• - Monthly EMI (Equated Monthly Installment)
• - Total interest payable
• - Total repayment (Principal + Interest)
• - Optional amortization table with month-wise breakdown

Formula used:

Where:

• P = Loan amount
• r = Monthly interest rate (Annual Rate ÷ 12 ÷ 100)
• n = Total number of EMIs

Key Benefits of Using a Loan Calculator

• Free and instant - No username, no password, no signing up.
• It accurately compares EMIs for Personal, Home, Auto or Business loans.
• It helps with budgeting - you will know exactly how much you need to save each month.
• It helps with pre-payment planning - now you can calculate applicable fees and savings if you repay the loan faster than agreed.
• A good resource for making better financial decisions - you can compare tenures and interest before you sign on the dotted line.

Example – Loan EMI Calculation

Suppose you borrow ₹5,00,000 at 8.5% annual interest for 5 years (60 months).

• EMI ≈ ₹10,344
• Total Interest ≈ ₹1,20,640
• Total Repayment ≈ ₹6,20,640

This shows how the calculator not only gives you the monthly installment but also the total cost of borrowing. Such projections help you decide whether to choose a shorter tenure to save on interest or a longer tenure for lower EMIs.

Core Features of the Loan Calculator

• The loan amount, interest rate and tenure are easily entered.
• You have the option of processing fees or downpayment amount.
• The EMI, interest payable and total repayment are done in an instant.
• You get amortization tables and graphs to further visualize it.
• Our sleek mobile design is easy to use from any device.
• You can export your results for sharing with prospective loan applications or incorporate into your budgeting calculations.

Why Use This Loan Calculator?

• You will be able to see your exact EMI before you apply for a loan.
• You will not have to work hard comparing loan offers from different banks.
• You can find out how much interest you are paying before you sign the loan agreement.
• You can plan for prepayment options and factors in additional fees.
• This loan calculator is great for new borrowers and experienced investors looking for clarity before borrowing.