Loan & EMI Calculator (US)

The Loan and EMI Calculator gives you a complete picture of any fixed-rate loan before you sign the paperwork. Enter the principal amount you plan to borrow, the annual interest rate offered by your lender, and the repayment term in months or years. The tool instantly computes your fixed monthly payment (also called an EMI — equated monthly installment), the total interest you will pay over the life of the loan, and the overall cost of borrowing. Beyond the headline numbers, it generates a full amortization schedule that shows, month by month, how each payment splits between principal reduction and interest charges. This schedule makes it easy to see how heavily interest-weighted the early payments are and how the balance tips toward principal over time. You can also model the impact of making extra payments: add a one-time lump sum or a recurring extra amount and watch the payoff date move forward and the total interest shrink. The calculator is useful for auto loans, personal loans, student loans, and any other installment debt with a fixed rate. Financial planners, first-time borrowers, and students studying amortization will all find it practical. The math follows the standard annuity formula PMT = P × r(1+r)^n / ((1+r)^n − 1), where P is principal, r is the periodic rate, and n is the number of periods. All computation happens locally in your browser — your loan amount, rate, and repayment details are never uploaded or stored. There are no account requirements, no usage limits, and no advertisements. Run as many scenarios as you like to negotiate better terms or decide between competing loan offers with full confidence in the numbers.

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.

An EMI looks like a single fixed number, but early payments are mostly interest and later ones mostly principal. Seeing the amortization helps you understand the real cost of borrowing and how extra payments cut it down.

• Calculates a fixed EMI for any loan amount, rate, and term.
• Full amortization schedule showing the interest/principal split each month.
• Total interest and total repayment shown at a glance.
• Works for personal, auto, and student loans alike.
• Everything is computed in your browser — no data is uploaded.

The equated monthly installment is EMI = P · [r(1 + r)^n] / [(1 + r)^n − 1], where P is the principal, r is the annual rate divided by 12, and n is the number of monthly payments. Amortization works month by month: each period's interest is the outstanding balance × r, the rest of the EMI reduces the principal, and the balance shrinks until it reaches zero. Early on interest dominates; over time principal takes the larger share.