Finance

Loan Calculator

Calculate loan EMI, total payment and interest for any loan amount

$
%
yr
mo
Monthly Payment
$377.42
Total Payment $22,645
Total Interest $2,645
Principal $20,000
Interest/Principal 13.2%
0%
Principal
Principal Interest
How to Use
  1. Select the Loan Type (Amortized, Deferred, or Bond).
  2. Select your Currency.
  3. Enter the amount (Loan Amount or Due Amount).
  4. Enter the annual interest rate.
  5. Set the loan term in years and months.
  6. Results dynamically update based on the loan type.

Formula

M = P × r(1+r)ⁿ / [(1+r)ⁿ − 1]

Taking out a personal, auto, or business loan requires a clear understanding of your repayment schedule and the total cost of borrowing. A longer loan term lowers your monthly payments but increases the total interest paid over the life of the loan. Knowing exactly what you will owe can protect you from predatory lending practices. Learn more about loan types and your rights by visiting the Consumer Financial Protection Bureau's guide on loans.