Loan Calculator

Advanced Loan Calculator

Calculate simple, compound interest and loan payments

Principal Amount ($)

Interest Rate (%)

Time Period (years)

Compounding Frequency Annually Semi-Annually Quarterly Monthly Daily

Calculation Results

$0.00

Select a calculation method to see results.

This tool helps you calculate:

• EMI (Equated Monthly Installment)

• Total Interest Payable

• Loan Repayment Schedule

• Affordability (How much loan you can take)

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📊 Loan Calculation Formulas

1. EMI Calculation

$$EMI=\frac{P\times r\times (1+r{)}^n}{(1+r{)}^n-1}$$

• P = Principal loan amount

• r = Monthly interest rate (Annual Rate ÷ 12)

• n = Loan tenure in months

2. Total Interest Payable

$$TotalInterest=(EMI\times n)-P$$

3. Total Payment (Principal + Interest)

$$TotalPayment=EMI\times n$$

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📌 Example Calculation

• Loan Amount (P): ₹10,00,000

• Interest Rate (Yearly): 8.5%

• Tenure: 10 years (120 months)

Step 1: Convert annual rate to monthly

$$r=\frac{8.5}{12\times 100}=0.007083$$

Step 2: Calculate EMI

$$EMI=\frac{10,00,000\times 0.007083\times (1+0.007083{)}^{120}}{(1+0.007083{)}^{120}-1}=\text{₹}12,398$$

Step 3: Total Interest

$$(12,398\times 120)-10,00,000=\text{₹}4,87,760$$

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🔢 Loan Repayment Schedule (Amortization)

Month	Principal (₹)	Interest (₹)	Balance (₹)
1	5,585	6,813	9,94,415
2	5,625	6,773	9,88,790
...	...	...	...
120	12,310	88	0

(Note: Early months have higher interest, later months more principal.)

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💡 Key Features

✔ Compare Loans – Adjust tenure/rate to find best option
✔ Prepayment Impact – See how extra payments reduce interest
✔ Affordability Check – "How much loan can I get if EMI ≤ ₹15,000?"