Loan Calculator
Calculate loan EMI, total interest, and view amortization schedule. Works for personal loans, car loans, education loans, and more.
Frequently Asked Questions
How is loan EMI calculated?
EMI = P * r * (1+r)^n / ((1+r)^n - 1), where P is loan amount, r is monthly interest rate, and n is total number of months.
What is an amortization schedule?
An amortization schedule shows the breakdown of each EMI payment into principal and interest components, and the remaining loan balance after each payment.
How to reduce total interest paid?
You can reduce total interest by: choosing a shorter tenure, making prepayments, negotiating a lower interest rate, or making part-payments when possible.