Loan & EMI Calculator (US)

The Loan & EMI Calculator determines your exact monthly repayment obligation, total interest expense, and full amortization schedule for any fixed-rate loan. Whether you are shopping for an auto loan, consolidating high-interest credit card balances with a personal loan, or evaluating commercial financing, this tool shows you the real mathematical cost of borrowing. Enter the total principal amount, annual interest rate, and repayment duration in months or years. The calculator applies standard actuarial loan amortization formulas to calculate your fixed equal monthly installment (EMI), total interest paid across the loan lifetime, and the total cost of the loan. An interactive schedule illustrates how the composition of your payments shifts over time: early payments consist predominantly of interest, while later payments pay down principal rapidly. You can experiment with different term lengths and rates to find an optimal balance between manageable monthly cash flow and minimal lifetime interest expense. All calculations run strictly client-side in your browser; your loan figures remain completely private. No accounts, fees, or usage restrictions.

1. Enter the loan amount you want to borrow.
2. Set the annual interest rate and the repayment term in months or years.
3. View your fixed monthly EMI and the total interest you'll pay.
4. Open the amortization schedule to see how each payment splits between interest and principal.

Loan offers often highlight a low monthly payment while obscuring the total interest charged over the full term. This calculator reveals the complete lifetime cost and amortization path before you sign.

• Fixed-rate EMI calculation for personal loans, auto loans, and term borrowings.
• Full amortization table showing interest, principal, and balance month by month.
• Total interest and total repayment figures computed instantly.
• Flexible term entry in either months or years.
• Runs fully in your browser with zero data retention.

EMI = P · [r(1 + r)^n] / [(1 + r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate / 12), and n is the total number of monthly payments.