Taking a loan is a big financial decision. Whether it's for a house (Mortgage), a car, or personal use, you need to know exactly how much it will cost you per month and in total.

The Loan EMI Calculator breaks down the math.

Key Terms

  • Principal: The amount you borrow (e.g., $100,000).
  • Interest Rate: The cost of borrowing (e.g., 5% per annum).
  • Tenure: How long you have to pay it back (e.g., 30 years).
  • EMI (Equated Monthly Installment): Since interest is calculated on the remaining balance, the first payments are mostly interest, while the last payments are mostly principal. The EMI keeps the monthly payment number constant.

Amortization Schedule

Our tool generates a table showing exactly where your money goes each month.

Example: In Month 1, you pay $500 ($400 Interest, $100 Principal). In Month 120, you pay $500 ($100 Interest, $400 Principal).

Tips

Even a small difference in interest rate (0.5%) can save you thousands of dollars over 20 years. Always use this calculator to compare offers from different banks.