Client-Side Tool • 100% Free & Private

Free Online Loan & EMI Calculator

Estimate fixed-rate monthly principal and interest, total interest, and preview up to 60 amortization payments in your browser. Fees and taxes are excluded.

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Everything runs 100% locally in your browser. No files are uploaded to any server.

Formula

For a fixed-rate loan with monthly payments, payment = P × r(1 + r)^n ÷ ((1 + r)^n − 1), where P is principal, r is the monthly rate (annual rate ÷ 12), and n is the number of monthly payments. At 0% interest, payment = P ÷ n. Fees, taxes, insurance, and variable rates are not included.

Worked example

For a $250,000 loan at 5.5% annual interest over 30 years, the estimated principal-and-interest payment is about $1,419.47 per month before fees, taxes, or insurance.

What the result means

The monthly figure is a principal-and-interest estimate under the entered annual interest rate and term, not a lender quote or APR. The schedule previews up to 60 monthly rows; the total interest assumes the same payment continues for the full term.

How to Use Loan/EMI Calculator

Step 1

Enter Amount

Input the loan principal.

Step 2

Set Rate

Input annual interest rate.

Step 3

View Schedule

See breakdown of payments.

Key Features & Benefits

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Privacy

Data stays in browser.

Frequently Asked Questions

What is included in the payment estimate?

It estimates fixed monthly principal and interest. It excludes taxes, insurance, fees, and variable-rate changes.

Can I calculate a 0% interest loan?

Yes. At 0% interest, the principal is divided evenly across the monthly payments.

Is the entered rate an APR or a lender quote?

No. Enter an annual interest rate. This tool does not calculate APR or include fees and other charges; compare its estimate with your lender’s written terms.

How much of the repayment schedule is shown?

The page previews up to the first 60 monthly payments. The displayed total interest assumes fixed payments across the full entered term.

Key terms

EMI: Equated Monthly Installment

What the monthly payment covers

The calculator estimates equal monthly payments on a fixed-rate, fully amortizing loan. It divides the entered annual interest rate by 12 and uses the selected term to estimate principal and interest. At a 0% rate it divides the principal evenly across the months.

For a $250,000 loan at 5.5% annual interest over 30 years, the estimate is about $1,419.47 per month before taxes, insurance, or fees. The schedule previews up to 60 payments; total interest covers the full entered term under the same assumptions.

Why a lender quote may differ

Origination charges, insurance, escrow, taxes, payment timing, rate adjustments, and other terms are not included. The entered interest rate is not an APR calculation. Use a lender’s written offer to compare the actual total cost.

Extra payments or a refinance can change the schedule substantially. This tool models the original fixed-rate scenario, so do not treat the result as a binding offer or a personal affordability recommendation.