Loan Calculator
Calculate your monthly EMI, total interest payable, and full amortization schedule in any currency. Works for home loans, car loans, personal loans, and any amortizing loan. Free, private, and runs entirely in your browser.
Loan Details
Amortization Schedule
| Year | Principal | Interest | Total Paid | Balance |
|---|---|---|---|---|
| Enter your loan details and click Calculate Loan to see the amortization schedule. | ||||
What does this loan calculator do?
This free online loan calculator helps you understand exactly what your loan will cost. Enter the loan amount, annual interest rate, and tenure — and instantly see your monthly payment, total interest payable, total payment, and a complete amortization schedule. Choose from over 30 global currencies including USD, EUR, GBP, INR, JPY, AUD, CAD, and more.
Whether you're planning a home loan, car loan, personal loan, education loan, or any other amortizing loan, this calculator gives you the full picture. It uses the standard EMI formula that banks and financial institutions use worldwide.
Unlike most loan calculators, everything runs locally in your browser — no data is uploaded to a server, no account is required, and there are no watermarks or usage limits.
How to use the loan calculator
- Pick your currency: Choose from over 30 global currencies — USD, EUR, GBP, INR, JPY, and more.
- Enter the loan amount: Type the principal amount you plan to borrow.
- Enter the annual interest rate: This is the yearly rate your lender charges (e.g., 6.5% for a mortgage).
- Choose your tenure: Enter the loan duration in years or months using the toggle.
- Click Calculate: Your monthly payment, total interest, total payment, and amortization schedule appear instantly.
- Explore the breakdown: Switch between yearly and monthly views to see exactly how each payment splits between principal and interest.
No signup, no email, no waiting. The entire process takes seconds.
Why use this loan calculator?
30+ global currencies
Choose from USD, EUR, GBP, INR, JPY, AUD, CAD, and many more. All results display in your selected currency.
100% private
Everything runs in your browser. The financial details you enter never leave your device — no server, no logs, no tracking.
Full amortization schedule
See exactly how each payment splits between principal and interest, year by year or month by month.
Visual breakdown
A clear donut chart shows the proportion of principal vs interest in your total payment.
Instant results
No server round-trip means your results appear the moment you click calculate. Zero waiting.
Works offline
Once the page loads, you can use the calculator without an internet connection. Bookmark it for quick access.
The EMI formula explained
The monthly payment (EMI) is calculated using the standard amortization formula:
EMI = [P × R × (1+R)N] / [(1+R)N − 1]
- P = Principal loan amount
- R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N = Loan tenure in months
For example, a $50,000 loan at 6.5% annual interest for 5 years (60 months) gives a monthly payment of approximately $978. Over the full tenure, you'd pay about $8,700 in interest — making the total payment roughly $58,700.
How the amortization schedule works
Every payment has two parts: interest and principal. In the early months, most of your payment goes toward interest. As the loan progresses, a larger share goes toward principal. The amortization schedule shows this shift period by period.
- Interest for the month = Outstanding balance × monthly interest rate
- Principal for the month = EMI − interest for the month
- New balance = Previous balance − principal paid
What can you use this loan calculator for?
Home loans and mortgages
- Compare monthly payments across different loan amounts and interest rates
- See how much interest you'll pay over 15, 20, or 30 years
- Plan prepayments by seeing the outstanding balance at any point
- Decide between a shorter tenure with higher payment or a longer tenure with lower payment
Car loans and auto financing
- Estimate monthly payments before visiting a dealership
- Compare financing offers from different banks
- See the true cost of the loan including total interest
Personal and education loans
- Plan repayment for personal expenses or tuition fees
- Check affordability by comparing payment against your monthly income
- Understand the total cost before committing to a loan
Business and commercial loans
- Model cash flow requirements for business expansion
- Compare working capital loan options
- Plan equipment financing and repayment schedules
Tips for getting a better loan
- Compare interest rates. Even a 0.5% difference can save you thousands over the life of a loan. Use this calculator to compare offers side by side.
- Choose a shorter tenure if you can afford it. A shorter tenure means a higher monthly payment but much less total interest paid.
- Make prepayments early. Prepaying in the early years of a loan saves the most interest, because that's when the interest component is highest.
- Keep your payment below 40% of monthly income. This is a common rule of thumb for maintaining healthy finances.
- Check for hidden fees. Processing fees, insurance, and other charges add to the cost of a loan. Always ask for the full breakdown.
- Use a longer tenure to reduce payments, then prepay. This gives you flexibility — lower required payments, with the option to pay more when you can.