Loan Calculator
Calculate your monthly loan payment (EMI), total interest, and a full amortization schedule. Works for personal loans, car loans, student loans, and more.
🔒 Loan Calculator
EMI & amortization schedule
Typical 7-25% APR
Loan Details
Optional
Monthly Payment (EMI)
$513
$25,000
Principal
$5,775
Total Interest
$30,775
Total Cost
- Monthly EMI
- $513
- Total Principal
- $25,000
- Total Interest
- $5,775
- Total Amount Paid
- $30,775
- Interest Percentage
- 18.8%
- Payoff Date
- Sep 2031
Payment Breakdown
📊 Principal vs Interest Over Time
📐 Term Comparison
| Term | Monthly Pmt | Total Interest | Total Cost |
|---|---|---|---|
| 12 months | $2,180 | $1,166 | $26,166 |
| 24 months | $1,136 | $2,273 | $27,273 |
| 36 months | $789 | $3,411 | $28,411 |
| 48 months | $616 | $4,578 | $29,578 |
| 60 months ✓ | $513 | $5,775 | $30,775 |
| 84 months | $396 | $8,257 | $33,257 |
| 120 months | $310 | $12,196 | $37,196 |
📅 Amortization Schedule
| Period | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $513 | $336 | $177 | $24,664 |
| Month 2 | $513 | $338 | $175 | $24,326 |
| Month 3 | $513 | $341 | $172 | $23,985 |
| Month 4 | $513 | $343 | $170 | $23,642 |
| Month 5 | $513 | $345 | $167 | $23,297 |
| Month 6 | $513 | $348 | $165 | $22,949 |
| Month 7 | $513 | $350 | $163 | $22,599 |
| Month 8 | $513 | $353 | $160 | $22,246 |
| Month 9 | $513 | $355 | $158 | $21,890 |
| Month 10 | $513 | $358 | $155 | $21,533 |
| Month 11 | $513 | $360 | $153 | $21,172 |
| Month 12 | $513 | $363 | $150 | $20,809 |
| Month 13 | $513 | $366 | $147 | $20,444 |
| Month 14 | $513 | $368 | $145 | $20,076 |
| Month 15 | $513 | $371 | $142 | $19,705 |
| Month 16 | $513 | $373 | $140 | $19,332 |
| Month 17 | $513 | $376 | $137 | $18,956 |
| Month 18 | $513 | $379 | $134 | $18,577 |
| Month 19 | $513 | $381 | $132 | $18,196 |
| Month 20 | $513 | $384 | $129 | $17,812 |
| Month 21 | $513 | $387 | $126 | $17,425 |
| Month 22 | $513 | $389 | $123 | $17,035 |
| Month 23 | $513 | $392 | $121 | $16,643 |
| Month 24 | $513 | $395 | $118 | $16,248 |
| Month 25 | $513 | $398 | $115 | $15,850 |
| Month 26 | $513 | $401 | $112 | $15,450 |
| Month 27 | $513 | $403 | $109 | $15,046 |
| Month 28 | $513 | $406 | $107 | $14,640 |
| Month 29 | $513 | $409 | $104 | $14,231 |
| Month 30 | $513 | $412 | $101 | $13,819 |
| Month 31 | $513 | $415 | $98 | $13,403 |
| Month 32 | $513 | $418 | $95 | $12,986 |
| Month 33 | $513 | $421 | $92 | $12,565 |
| Month 34 | $513 | $424 | $89 | $12,141 |
| Month 35 | $513 | $427 | $86 | $11,714 |
| Month 36 | $513 | $430 | $83 | $11,284 |
| Month 37 | $513 | $433 | $80 | $10,851 |
| Month 38 | $513 | $436 | $77 | $10,415 |
| Month 39 | $513 | $439 | $74 | $9,976 |
| Month 40 | $513 | $442 | $71 | $9,533 |
| Month 41 | $513 | $445 | $68 | $9,088 |
| Month 42 | $513 | $449 | $64 | $8,639 |
| Month 43 | $513 | $452 | $61 | $8,188 |
| Month 44 | $513 | $455 | $58 | $7,733 |
| Month 45 | $513 | $458 | $55 | $7,275 |
| Month 46 | $513 | $461 | $52 | $6,813 |
| Month 47 | $513 | $465 | $48 | $6,349 |
| Month 48 | $513 | $468 | $45 | $5,881 |
| Month 49 | $513 | $471 | $42 | $5,409 |
| Month 50 | $513 | $475 | $38 | $4,935 |
| Month 51 | $513 | $478 | $35 | $4,457 |
| Month 52 | $513 | $481 | $32 | $3,976 |
| Month 53 | $513 | $485 | $28 | $3,491 |
| Month 54 | $513 | $488 | $25 | $3,003 |
| Month 55 | $513 | $492 | $21 | $2,511 |
| Month 56 | $513 | $495 | $18 | $2,016 |
| Month 57 | $513 | $499 | $14 | $1,517 |
| Month 58 | $513 | $502 | $11 | $1,015 |
| Month 59 | $513 | $506 | $7 | $509 |
| Month 60 | $513 | $509 | $4 | $0 |
How to Use the Loan Calculator
Our loan calculator helps you understand the true cost of any loan before you sign. Enter the loan amount, annual interest rate, and loan term to get your monthly EMI instantly. You can also add extra monthly payments to see how much interest you can save. For home loans specifically, check our mortgage calculator. To compare investment growth alongside loan costs, try our compound interest calculator.
📐 EMI Formula Explained
EMI = P × r × (1+r)^n / [(1+r)^n − 1]- P = principal loan amount
- r = monthly interest rate (annual ÷ 12)
- n = total number of monthly payments
Example: $25,000 at 8.5% for 60 months → EMI ≈ $513/month
💡 Tips to Save on Loan Interest
- Shop around: compare rates from multiple lenders — even 0.5% saves hundreds
- Improve your score: higher credit score = lower rate
- Make extra payments: extra $100/month can save $1,000+ in interest
- Shorter terms: a 36-month loan costs less total than a 60-month one
- Prepay when possible: reduces outstanding principal balance
🏷️ Types of Loans
- Personal Loan: unsecured, 7-25% APR, flexible use
- Auto Loan: secured by vehicle, 5-12% APR
- Student Loan: federal 4-8%, private varies
- Home Equity: secured by home, lower rates
- Business Loan: term loans from 6-16% APR
📖 Understanding Amortization
In the early months of a loan, most of the payment goes toward interest — the principal balance is highest then, so more of each payment goes toward the balance as time goes on. This front-loading of interest is why paying extra early cuts more future interest than the same extra dollar paid later.
| Loan | Amount | Rate | Term | Monthly Payment |
|---|---|---|---|---|
| Mortgage (30yr) | $300,000 | 6.5% | 360 mo | $1,896 |
| Mortgage (15yr) | $300,000 | 6.0% | 180 mo | $2,532 |
| Auto Loan | $25,000 | 7% | 60 mo | $495 |
| Personal Loan | $10,000 | 12% | 48 mo | $263 |
| Credit Card | $5,000 | 20% | 36 mo | $186 |
— FAQ