Calculate monthly EMI, total interest, and full amortization schedule for any loan
Understanding the true cost of a loan requires more than knowing the monthly payment — the total interest paid over the loan term often equals or exceeds the original principal for long-term loans like mortgages. Comparing loan offers from different lenders requires a clear view of total cost, not just monthly instalment. This loan and EMI calculator shows the monthly payment, total amount repaid, and total interest cost for any principal, annual interest rate, and loan term. It also generates a complete amortisation schedule showing exactly how much of each payment goes to principal versus interest, month by month, for the entire loan duration. Consider a first-time homebuyer weighing two mortgage offers: one at 6.5% over 30 years and another at 6.1% over 25 years. Plugging both into this calculator instantly reveals that the shorter term at the lower rate saves tens of thousands of dollars in total interest, even though the monthly payment is higher — a trade-off that is impossible to properly evaluate without seeing the full numbers side by side. A car buyer deciding between a 48-month and a 60-month auto loan can use the same approach to see precisely how much extra interest that added year of payments will cost. Small business owners evaluating equipment financing can enter the quoted rate and repayment period to verify whether the lender's headline figures match what the amortisation schedule actually shows. First-time borrowers, personal finance enthusiasts, and anyone negotiating loan terms with a bank or dealership will find this tool especially useful for turning abstract percentages into concrete dollar figures. All calculations are performed directly in your browser — no data is sent to any server, so your loan details and financial figures remain completely private. Enter your principal, rate, and term to see your full repayment picture in seconds.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $188.71 | $147.05 | $41.67 | $9,852.95 |
| 2 | $188.71 | $147.66 | $41.05 | $9,705.30 |
| 3 | $188.71 | $148.27 | $40.44 | $9,557.02 |
| 4 | $188.71 | $148.89 | $39.82 | $9,408.13 |
| 5 | $188.71 | $149.51 | $39.20 | $9,258.62 |
| 6 | $188.71 | $150.13 | $38.58 | $9,108.48 |
| 7 | $188.71 | $150.76 | $37.95 | $8,957.72 |
| 8 | $188.71 | $151.39 | $37.32 | $8,806.34 |
| 9 | $188.71 | $152.02 | $36.69 | $8,654.32 |
| 10 | $188.71 | $152.65 | $36.06 | $8,501.66 |
| 11 | $188.71 | $153.29 | $35.42 | $8,348.37 |
| 12 | $188.71 | $153.93 | $34.78 | $8,194.45 |
Monthly payment (EMI) — Calculates your exact monthly instalment including principal and interest components.
Total cost display — Shows total amount repaid and total interest paid over the full loan term.
Amortisation schedule — Full month-by-month breakdown of principal vs interest for every payment.
Supports any currency — Enter amounts in any currency — results are displayed in the same unit you enter.