💳 Loan & EMI Calculator
Free loan and EMI calculator for personal, car, education and student loans. See your monthly payment, total interest and the true cost of borrowing instantly.
How this calculator works
EMI (equated monthly instalment) is the fixed monthly payment that repays a loan in full over its term. It is calculated as EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the principal, r the monthly rate and n the number of months. Early payments are mostly interest; later ones are mostly principal.
The donut shows how much extra you pay over the principal. Try shortening the term: the monthly payment rises, but total interest usually drops sharply. Always compare loans by APR, which includes most fees, rather than the headline rate.
Frequently asked questions
What is a good interest rate?
It depends on the loan type, your credit profile and current central-bank rates. Get at least three quotes and compare APRs on identical terms.
Does prepaying help?
Usually yes — extra payments reduce principal and future interest. Check for prepayment penalties first.
Private or government student loan?
Government loans in many countries offer protections private loans lack. Read our private student loans guide before borrowing.
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Tell us your goal and we'll introduce you to independent, fee-only advisors who fit. Takes about 60 seconds.
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Results are estimates for educational purposes based on the inputs and assumptions shown; they are not a guarantee or a recommendation. Last reviewed October 30, 2026.