Summary: Calculate a Loan Payment Free, in Your Browser
A loan calculator finds the fixed monthly payment that repays a loan, and the interest you pay on top, from the amount borrowed, the annual interest rate and the term. This one also lists the principal, interest and remaining balance for every month. It runs in your browser and nothing is uploaded; the Network tab in DevTools shows no request carrying your figures.
The formulas it uses
- Monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 ÷ 100 and n = number of months. At 0% it is P ÷ n.
- Each month: interest = balance × r, principal repaid = payment − interest.
- Total payment = payment × n. Total interest = total payment − P.
It assumes a fixed rate and equal payments at the end of each month, unrounded, so the last payment brings the balance to exactly zero. Fees, insurance, taxes and extra payments are not modeled.
Table of Use: Loan Calculator Examples
| Use case | What you enter | What you get |
|---|---|---|
| Default example: personal loan | INR, 5,00,000 at 10% for 5 years | ₹10,623.52 a month; total interest ₹1,37,411; total payment ₹6,37,411 |
| Shorter versus longer term | USD, 15,000 at 9%, 36 months versus 60 months | $477.00 a month and $2,172 interest, versus $311.38 and $3,683 |
| Effect of a higher rate | INR, 5,00,000 for 3 years at 10% versus 12% | ₹16,133.59 and ₹80,809 interest, versus ₹16,607.15 and ₹97,858 |
| Interest-free (0%) loan | USD, 10,000 at 0% for 24 months | $416.67 a month; total interest $0 |
Features
- Results at a glance: Monthly Payment, Principal, Total Interest, Total Payment and a Payment Breakdown ring of principal versus interest.
- Amortization Schedule with Month, Payment, Principal, Interest and Balance. The on-screen table rounds to whole units; the files keep two decimals.
- CSV and PDF export, created in your browser. The PDF shows amounts with the currency code (INR, USD) because its fonts cannot draw ₹.
- Term in years or months, up to 50 years; 2.5 years becomes 30 payments.
- Seven currencies (INR, USD, EUR, GBP, AUD, CAD, NZD) change the symbol and grouping; amounts are formatted, not converted.
How to Use the Loan Calculator
- Choose a Currency.
- Type the Loan Amount.
- Enter the Interest Rate (% per annum), or 0 for an interest-free loan.
- Set the Loan Tenure and pick years or months.
- Read the Monthly Payment, then scroll the Amortization Schedule and press CSV or PDF to save it.
Who Can Use It
Anyone comparing a personal, car, education or business loan offer can test amounts, rates and terms before signing.
For a home purchase, the mortgage calculator adds the home price and down payment, and the EMI calculator adds a year-wise breakdown. The interest calculator and simple interest calculator handle a single sum. To see interest work for you, try the compound interest, savings or investment calculator, and compare rates with the percentage calculator.
FAQs
How do I calculate the monthly payment on a loan?
Use payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount borrowed, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of payments. For example, 5,00,000 at 10% a year over 5 years is 10,623.52 a month. The calculator does this for you.
What is the difference between a loan calculator and an EMI calculator?
Both use the same fixed-payment formula; EMI (equated monthly instalment) is the term used in India for the monthly payment. The EMI calculator here also groups the schedule by year and offers more currencies; this one accepts rates up to 999% a year.
Does the calculator work for a 0% or interest-free loan?
Yes. Enter 0 as the interest rate and the payment is the loan amount divided by the number of months, with zero interest. For example, 10,000 over 24 months is 416.67 a month. A lender may still add a processing fee to a no-cost loan, and this calculator does not include fees.
Why is my lender’s payment different from the calculator?
The calculator assumes a fixed rate, equal payments at the end of each month and monthly interest at one twelfth of the annual rate. Lenders may add fees or insurance, count interest by the day or change the rate later, so treat the result as an estimate.
Should I choose a shorter or a longer loan term?
A shorter term means a higher payment but less interest overall. For 15,000 at 9% a year, 36 months costs 477.00 a month and 2,172 in interest, while 60 months costs 311.38 a month and 3,683 in interest. Change the Loan Tenure box to compare your own numbers.
Is it safe to enter my loan details into this calculator?
Yes. The payment, the schedule and the CSV and PDF files are all created in your browser, and nothing is uploaded. To check, open the Network tab in DevTools while you type: no request carries your figures. The calculator does not save what you enter.