Loan Calculator

Calculate loan payments and total cost of borrowing.

$
%
yr

Monthly payment

$495.03

  • Total interest$4,701.80
  • Total paid$29,701.80

Generic amortizing installment loan: amount, annual rate, term → fixed monthly payment. Personal, auto, and mortgage pages add product-specific inputs (down payment, trade-in, home price). India-style EMI uses the same math with different labels.

Formula

M = P × r(1+r)^n / ((1+r)^n − 1)

How to calculate

  1. Enter principal, annual interest rate, and term.
  2. Convert the rate to a monthly decimal and the term to months.
  3. The result is the payment that fully amortizes the balance.

Example

A $25,000 loan at 7% for 5 years is about $495/month.

Common mistake

Fees and origination charges are not in the rate unless you add them to principal or use an APR tool.

FAQ

How do I calculate a loan payment?

Enter amount, annual rate, and term. The result is the fixed monthly payment that fully amortizes the loan.

Is this an EMI calculator?

The math is the same as reducing-balance EMI. This page uses generic loan labels rather than India-specific EMI defaults.

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