Loan Calculator

Loan Calculator is a free online tool that computes monthly loan payments, total interest payable, and the complete amortisation schedule for any loan. Enter the loan amount, annual interest rate, and repayment tenure — the tool instantly shows your monthly instalment and the full breakdown of principal and interest over the loan period.

Loans are the foundation of personal finance — home loans, car loans, personal loans, education loans, and business loans all follow the same fundamental mathematics. The monthly payment on a fixed-rate loan is determined by three variables: the principal (the amount borrowed), the interest rate, and the loan tenure (the repayment period). Changing any one of these variables significantly affects both the monthly payment and the total cost of the loan.

The amortisation schedule shows how each monthly payment is split between interest and principal repayment. In the early months of a loan, the vast majority of each payment goes toward interest — very little reduces the principal. As the loan matures, the interest portion shrinks and the principal repayment grows. This is why paying extra in the early years of a loan saves a disproportionate amount of total interest.

Comparing loan offers requires looking beyond the monthly payment. A longer tenure reduces the monthly payment but dramatically increases total interest paid. A ₹10 lakh loan at 10% for 10 years has a monthly EMI of ₹13,215 and total interest of ₹5.86 lakh. The same loan for 20 years has a lower monthly EMI of ₹9,650 but total interest of ₹13.16 lakh — more than double. The loan calculator makes these trade-offs visible instantly.