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Loan Calculator

Calculate the monthly payment, total interest and total cost of any fixed-rate loan.

Works as an EMI calculator for personal loans, student loans and any fixed-rate installment loan. Enter the amount, rate and term to see your equated monthly instalment.

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yrs
ResultUpdates as you type
Enter a loan amount and term greater than zero.

How to use

  1. Enter the loan amount.
  2. Add the annual interest rate.
  3. Set the term in years to see your monthly payment.

Formula

PaymentM = P · r / (1 − (1 + r)^−n)

Frequently asked questions

Is the rate the same as APR?

Not always. APR also folds in certain fees, so the APR on a loan with origination fees will be higher than the stated interest rate.

What happens if I pay extra?

Extra payments go straight to principal, which lowers the balance interest is charged on and shortens the payoff time.

Keep calculating
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