Loan Calculator

Loan Calculator is a versatile financial tool that helps individuals and businesses calculate monthly installments (EMI), total interest payable, and repayment schedules. It works for all types of loans including personal loans, home loans, education loans, and business loans, making financial planning simple and accurate.

Common Loan Calculations:

• EMI (Equated Monthly Installment): Fixed monthly repayment that includes both principal and interest.
• Total Interest Payable: Calculates the total cost of interest for the entire loan period.
• Total Repayment Amount: Sum of principal loan amount plus total interest payable.
• Amortization Schedule: Provides detailed monthly or yearly breakdown of principal and interest components.

Key Uses of the Loan Calculator:

• Borrowers: Estimate monthly payments and plan loan affordability before borrowing.
• Students & Professionals: Calculate repayment options for education or personal loans.
• Homebuyers & Car Buyers: Compare different loan offers and choose the best fit.
• Financial Advisors: Assist clients with accurate loan planning and repayment strategies.

Key Features of the Loan Calculator:

• Accurate EMI Calculation: Provides instant results based on loan amount, interest rate, and tenure.
• Customizable Inputs: Adjust values to compare multiple loan scenarios easily.
• Comprehensive Results: Shows EMI, total repayment, and detailed amortization schedules.
• User-Friendly & Reliable: Simple interface that reduces manual errors and saves time.

1. Enter Loan Amount

• Provide the total loan amount you want to borrow.
• Example: $10,000 or ₹5,00,000.

2. Input Interest Rate

• Enter the annual interest rate charged by the lender.
• Example: 8% per annum.

3. Select Loan Tenure

• Choose the repayment period in months or years.
• Example: 36 months (3 years).

4. Add Optional Details

• Include extra details like processing fees, prepayments, or insurance costs to get a more precise calculation.

5. Click ‘Calculate Loan’

• The calculator instantly provides your monthly EMI, total interest payable, and total repayment amount.

6. Review Loan Summary

• Check the detailed summary, including loan amortization, interest breakdown, and payment schedule.
• This helps you plan your finances effectively.

Loan Calculator Reference Table

Loan Parameter	Description	Example Value	Calculation / Note
Loan Amount	Total principal amount borrowed	₹500,000	Principal used to calculate EMI
Interest Rate (Annual)	Rate of interest charged per year	7.5%	Used in EMI formula: EMI = P × r × (1+r)^n / ((1+r)^n-1)
Loan Tenure	Total duration to repay the loan	20 years	Tenure converted to months for EMI calculation
EMI	Equated Monthly Installment	₹4,020	Calculated using formula: EMI = P × r × (1+r)^n / ((1+r)^n-1)
Total Payment	Total amount paid including interest	₹9,64,800	EMI × Total months
Total Interest	Total interest paid over the loan tenure	₹4,64,800	Total Payment - Principal Amount