Loan Calculator
Calculate loan payments and interest
This free online loan calculator runs in your browser and is part of our Calculators collection.
🧮 Loan Calculator
Calculate monthly loan payments and total interest
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Instant In-Browser Execution
Runs locally in JavaScript without wait times or server delays.
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100% Privacy & Security
Your inputs and files are never stored or logged on remote servers.
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Cross-Device Responsive
Fully optimized for mobile smartphones, tablets, and desktop displays.
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100% Free Forever
No subscription fees, no signups, and no software installations.
How to Use the Online Loan Calculator
1
Enter Loan Amount
Type the total principal amount borrowed (e.g. $25,000 or $300,000).
2
Specify Annual Interest Rate
Input the nominal annual percentage rate (APR) charged by the lender (e.g. 6.5%).
3
Set Repayment Tenure
Specify the loan duration in either Years or Months (e.g. 5 years or 60 months).
4
Inspect Monthly EMI & Amortization Table
Review your monthly installment payment, total interest payable, total cost of loan, and full month-by-month principal/interest amortization schedule.
Frequently Asked Questions
Common questions about using this free online loan calculator.
How is the monthly Equated Monthly Installment (EMI) calculated? ▾
EMI is calculated using the reducing balance annuity formula: `EMI = P × r × (1 + r)^n / [ (1 + r)^n − 1 ]`, where P is principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is total months.
Why does early loan payment consist mostly of interest? ▾
In standard amortization, interest is calculated each month on the remaining unpaid principal balance. Because principal is largest at the beginning, early monthly installments consist predominantly of interest charges.
How much interest can I save by making prepayments? ▾
Any extra payment made directly against the principal balance reduces future interest compounding for all remaining months, significantly shortening your loan tenure and saving thousands in total interest.
Does this calculator work for auto loans and personal loans? ▾
Yes. It works for personal loans, auto/car financing, student loans, and fixed-rate installment credit.
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