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Calculate the monthly payment (EMI) for a personal, car, or student loan, the total interest, and a full amortization schedule, with extra payments.
Also covers: Loan calculator · EMI calculator · Car loan calculator
The nominal annual rate (APR without fees).
Optional. Goes straight to the principal.
Monthly payment (EMI)
$500.95
$5,056.92 interest over 5 years · $30,056.92 in total.
Total interest
$5,056.92
20.2% of the loan
Total paid
$30,056.92
Paid off in
5 years
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $4,281.58 | $1,729.81 | $20,718.42 |
| 2 | $4,613.97 | $1,397.42 | $16,104.46 |
| 3 | $4,972.16 | $1,039.22 | $11,132.29 |
| 4 | $5,358.16 | $653.22 | $5,774.13 |
| 5 | $5,774.13 | $237.25 | $0.00 |
The amount borrowed, the annual interest rate, and the term in years or months.
The fixed monthly payment (EMI), the total interest, and the total you'll pay back.
Add an extra monthly amount to see how much sooner the loan is paid off and how much interest you save. The chart and schedule show each year's split between principal and interest.
With the standard annuity formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12), and n the number of months. Each payment covers that month's interest first, and the rest reduces the balance.
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, less of each payment goes to interest and more to the principal.
No. It's a calculator for estimates. Your lender's figures depend on fees, exact dates, and how they calculate interest, so check the official quote before you decide.
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