Find the monthly payment, total interest and payoff time for any fixed-rate loan.
Use the EMI formula with the monthly rate and number of months. A ₹5,00,000 loan at 10% for 5 years costs ₹10,623.52 a month and ₹1,37,411.34 in total interest.
The Loan Calculator works for any loan with a fixed rate and equal monthly payments — personal, vehicle, education, business or a loan from a friend. Enter the amount, rate and term in years and months and it returns the payment, the total interest and the schedule.
Use the extra-payment boxes to test overpayments, and the term-by-rate table to see how small changes affect the cost. If you know the payment but not the rate, try the Interest Rate Calculator; to see the true cost with fees use the APR Calculator.
The calculator applies the standard financial formulas step by step.
| Item | Amount |
|---|---|
| Loan amount | ₹5,00,000.00 |
| Monthly payment (principal + interest) | ₹10,623.52 |
| Total interest | ₹1,37,411.34 |
| Total of all payments | ₹6,37,411.34 |
| Time to pay off | 5 years |
| Term | 9% p.a. | 10% p.a. | 11% p.a. |
|---|---|---|---|
| 1 years | ₹43,725.74 | ₹43,957.94 | ₹44,190.83 |
| 2 years | ₹22,842.37 | ₹23,072.46 | ₹23,303.92 |
| 3 years | ₹15,899.87 | ₹16,133.59 | ₹16,369.36 |
| 5 years | ₹10,379.18 | ₹10,623.52 | ₹10,871.21 |
| 7 years | ₹8,044.54 | ₹8,300.59 | ₹8,561.22 |
Payment = P × r ÷ (1 − (1 + r)^−n), with P the amount, r the monthly rate and n the number of months.
The rate is the cost of borrowing the principal; APR also includes fees, so it shows the true yearly cost.
Choose a shorter term, make extra payments or negotiate a lower rate.
For a fixed-rate loan, yes. Floating-rate loans change when the benchmark moves.
The calculator re-runs the schedule and shows the interest saved and how much sooner the loan ends.
Yes — use years plus the extra months box, for example 2 years and 6 months.
It uses the standard formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) The full method and a worked example are shown on this page.
No. The calculator gives estimates for planning and learning. Real offers vary by lender, product and date, so confirm the details with your bank, lender or a qualified adviser before deciding.
Yes. The maths is identical in any currency; only the currency symbol shown in the results differs.
No. Everything is calculated in your browser and nothing you enter is uploaded or saved.
