Loan Calculator Monthly EMI & Total Interest – Free & Easy Tool

The burden of a loan is greatly Lightened when you are fully aware of how much you will pay every month and how much interest you will pay over the entire duration of the loan. With the features of our Loan Calculator Monthly EMI & Total Interest, you will have the right figures every time and make positive decisions on how to spend your money. Rest assured, the tool will assist you in personal loans, car loans, education loans, and any other type of credit on installment basis.

What is a Loan Calculator?

A Loan Calculator is an online tool you can use to calculate your monthly EMI (Equated Monthly Installment), total interest payable and total payable amount with respect to the loan amount, interest rate and the tenure of the loan. Out of the three inputs, loan amount, annual interest rate and number of years, only one of them can be easily estimated. With the correct drafts, the user can easily know how much will the monthly payments total to.

This tool reduces the time to do, or the necessity to do, complicated estimations and intricate works on spreadsheets. For users evaluating a number of loans and offers and who are ready to make quick decisions, the tool will be beneficial to them the most.

How Our EMI Calculator Works

Our Loan EMI Calculator uses the standard EMI formula:

Where:

• P = Principal Loan Amount
• r = Monthly Interest Rate (Annual ÷ 12 ÷ 100)
• n = Total Number of Monthly Installments

Once you click “Calculate,” the calculator instantly shows:

• Monthly EMI – fixed monthly payment you must make
• Total Interest – total interest you will pay over the loan term
• Total Payment – sum of principal + interest

Amortization Schedule for Detailed Loan Insights

One of the most powerful features of this calculator is the Amortization Schedule Table. It provides a month-by-month breakdown showing:

• How much of each EMI goes toward interest
• How much goes toward principal repayment
• Remaining balance after each payment

This schedule helps you see how your loan gradually reduces over time, making it easier to plan prepayments or early closures. You can even download the schedule as a CSV file to analyze it in Excel or Google Sheets.

Why Use This Loan Calculator?

• Instant Results: No need for manual math
• Accurate EMI Calculation: Uses standard formulas
• Detailed Amortization: See monthly breakup of principal & interest
• Downloadable CSV: Keep records or share with others
• Visual Insights: Pie chart makes loan comparison easy

Whether you are planning a new loan or checking an existing one, this tool saves time, reduces guesswork, and helps you choose the most affordable option.