Loan / EMI Calculator

How loan payments are calculated

This calculator uses the standard amortization formula to estimate a fixed monthly payment: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments. This applies to most personal loans, auto loans, and fixed-rate mortgages.

What affects your monthly payment

• Loan amount — larger loans mean larger payments
• Interest rate — higher rates increase both the payment and total interest paid
• Term length — longer terms lower the monthly payment but increase total interest paid over the life of the loan

This tool provides an estimate for planning purposes only and does not include fees, taxes or insurance that a lender may add.