Calculator

Loan Calculator

Loan Calculator
Loan Calculator
$
%
Periodic payment
Total interest
Total payment
Formula
For APR R, payments per year f, periodic rate r = R / (100·f), number of payments n, and principal P:
Payment = P · r · (1 + r)n / ((1 + r)n − 1)
When the interest rate is 0, Payment = P / n.
Tip: Amount uses your locale for formatting; change the currency symbol in the header if needed.

What is a Loan Calculator?

A Loan Calculator is a powerful online tool that helps you estimate the repayment details of any loan, including monthly EMI (Equated Monthly Installments), total interest payable, and overall payment amount. Whether you are planning to take a home loan, car loan, education loan, or personal loan, this calculator saves you from manual math and gives instant results.

By entering just a few details—loan amount, interest rate, loan term, and payment frequency—you can see exactly how much you will pay each month (or week, biweekly, quarterly, annually).


Why is a Loan Calculator Important?

  • Financial Clarity – It gives a clear picture of repayment obligations before you borrow.

  • Comparison Tool – You can compare different loan offers (banks, NBFCs, online lenders) easily.

  • Time Saver – No need for complex formulas; results are instant.

  • Smarter Decisions – Helps you choose the right loan amount and repayment plan that suits your budget.

  • Avoids Surprises – Prevents financial shocks by showing the total cost of borrowing upfront.


How to Use This Loan Calculator

  1. Enter Loan Amount – Example: $200,000.

  2. Input Interest Rate – Example: 8% per annum.

  3. Choose Loan Term – Example: 20 years.

  4. Select Payment Frequency – Monthly, biweekly, or yearly.

  5. Click Calculate – Instantly see EMI, total interest, and total repayment.


Key Benefits of Online Loan Calculators

  • Works for all loan types (mortgage, car loan, personal loan, education loan).

  • Accurate & instant results with zero manual calculation.

  • Responsive & mobile-friendly—use it anytime, anywhere.

  • Helps with loan refinancing decisions by comparing old vs new rates.

  • Provides financial confidence before signing any loan agreement.


Frequently Asked Questions (FAQs)

 

1. What is EMI in a loan calculator?

EMI stands for Equated Monthly Installment, the fixed monthly payment you make to repay your loan, including both interest and principal.

2. Can I use this calculator for home, car, and personal loans?

Yes. The Loan Calculator works for all types of loans—housing, vehicle, personal, or even student loans.

3. How accurate are online loan calculators?

They are highly accurate when you input the correct values for loan amount, interest rate, and tenure. However, actual EMIs may differ slightly due to lender charges or taxes.

4. What happens if my interest rate changes?

If your loan has a floating interest rate, you can re-enter the new rate in the calculator to see updated repayment amounts.

5. Does the loan calculator show total interest paid?

Yes. Apart from EMI, it also shows total interest and total repayment amount over the loan term.

6. Is this calculator free to use?

Absolutely! This tool is 100% free and available for unlimited use.


Conclusion

A Loan Calculator is your best financial companion before taking a loan. It ensures you borrow smartly, plan repayments, and manage your finances with confidence. Use our free tool today to compare loans, reduce financial stress, and make smarter borrowing decisions.

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