Loan & EMI Calculator

Work out the monthly payment on a loan or mortgage, the total interest you will pay, and what share of your money goes to the lender rather than the debt.

How to use this tool

1. Enter the loan amount, annual interest rate, and term in years.
2. Pick your currency.
3. The monthly payment, total interest, and total repaid appear instantly, with a bar showing the principal/interest split.

How the calculation works

This uses the standard amortisation formula, the same one banks use for EMI (equated monthly instalment) loans:

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)

where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months. Every payment is identical; what changes is the split — early payments are mostly interest, later ones mostly principal.

What this tells you that the monthly figure doesn't

The interest bar is the number worth looking at. On a 20-year mortgage at 7.5%, you pay roughly as much in interest as the house cost. Stretching a loan from 20 years to 30 lowers the monthly payment but can add half again to the total interest.

Two things reduce total interest dramatically:

• A shorter term. Higher monthly payment, far less interest overall.
• Overpayments. Money paid above the EMI goes straight against the principal, so it removes all the future interest that principal would have accrued. Check your lender allows it without penalty.

Important limits

This is an estimate for planning, not a quote. Real loan agreements include arrangement fees, insurance requirements, property taxes, and lender-specific rounding. Variable-rate loans change over time. Nothing here is financial advice — talk to a qualified adviser or the lender before committing.

Related tools

• Percentage calculator — rates and changes
• Date difference calculator — term lengths in days
• Unit converter — everyday conversions
• Finance — market data and explainers

FAQ

Is my data sent anywhere?

No. It is arithmetic run in your browser. Nothing is stored or transmitted.

What is EMI?

Equated Monthly Instalment — a fixed monthly payment covering both interest and principal, so the loan is fully repaid by the end of the term. It is the standard structure for mortgages and personal loans.

Why is so much of my early payment interest?

Interest is charged on the outstanding balance, which is at its largest at the start. As the balance falls, the interest portion shrinks and the principal portion grows.

Does this handle variable rates?

No. It assumes a fixed rate for the whole term. For a variable-rate loan, run it at a few different rates to see your exposure.

What about a 0% interest loan?

It handles that correctly — the payment is simply the amount divided by the number of months.

Does it include fees or insurance?

No. Add those separately; arrangement fees and mandatory insurance can meaningfully change the true cost.