Calculate monthly payments, total interest, and total repayment for any type of loan.
Monthly EMI
₹11,122
Total Amount Payable
₹6,67,333
Principal
₹5,00,000
Total Interest
₹1,67,333
This standard loan amortization formula computes a fixed monthly payment that covers both interest on the remaining balance and principal repayment. Total interest paid = (M × n) − P. The same formula applies to mortgages, car loans, student loans, and personal loans.
Monthly payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]. For a $10,000 loan at 8% for 3 years: r = 0.08/12 = 0.006667, n = 36, M = $313.36.
Three main factors: loan amount (higher = bigger payment), interest rate (higher = bigger payment), and loan term (longer term = smaller monthly payment but more total interest).
Shorter term: higher monthly payments but less total interest. Longer term: lower monthly payments but significantly more total interest paid. Choose based on your cash flow needs and total cost.
Find your monthly mortgage payment and total interest for any home loan amount, rate, and term.
Calculate monthly payments and compare the total cost of personal loan offers.
Calculate your car loan monthly payment and compare financing options to get the best deal.
Find your debt-free date using the avalanche or snowball method and see how much interest you save.
Generate a complete payment-by-payment amortization schedule for any loan.