Loan EMI Calculator
100% PrivateCalculatorsCalculate the fixed monthly payment on a loan, with a full amortization schedule.
Runs entirely in your browser. Your input is not uploaded to Ovatly or anywhere else.
| Year | Interest paid | Balance at year end |
|---|---|---|
| 1 | 5,499.06 | 0.00 |
Amounts are shown to two decimal places; your lender may round each monthly payment, which changes the final payment slightly.
- 1Enter the loan amount.
- 2Enter the annual interest rate your lender quotes.
- 3Enter the term in months (5 years is 60 months).
- 4Read the monthly payment, total interest and the year-by-year table; adjust the inputs to compare offers.
The monthly payment is 8,791.59. Over the year you pay 105,499.06 in total, of which 5,499.06 is interest, and the balance reaches zero at the end of month 12. Try 24 months to see the payment fall while the total interest rises; that trade-off is the real cost of a longer term.
- The calculation assumes a fixed rate and equal monthly payments with monthly compounding, which is how most consumer loans work.
- Fees, insurance and taxes are not included; lenders add those on top, so compare the full cost, not just the EMI.
- Figures are shown to two decimals. Lenders who round each payment to whole units will end with a slightly different final payment.
An equated monthly installment is the fixed amount you pay each month so the loan is exactly repaid at the end of the term. Early payments are mostly interest; later ones are mostly principal.
About this tool
The Loan EMI Calculator computes the fixed monthly payment (equated monthly installment) for a loan from its amount, annual interest rate and term, with the total interest and a year-by-year balance table. Use it to compare loan offers on equal terms before you sign anything.
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