Loan Calculator
Calculate monthly payments, total interest, and total cost for any loan. Compare different loan terms and interest rates.
Results
Loan Payment Formula
The monthly payment is calculated the same way as EMI:
Payment = P × r × (1 + r)n / ((1 + r)n − 1)
Frequently Asked Questions
What factors affect loan interest?
The total interest paid depends on the loan amount, interest rate, and loan term. A higher rate or longer term increases total interest, while a larger down payment reduces it.