Loan EMI Calculator
Estimate monthly loan EMI, total interest and repayment from principal, annual rate and tenure.
What this calculator does
Estimate a fixed monthly instalment for a reducing-balance loan. Actual lender schedules may differ because of fees, rate resets, insurance, payment dates and rounding.
How to use it
- Enter principal
- annual interest rate
- tenure in years
- review EMI, total repayment and estimated interest.
Formula and calculation method
Worked example
Important information
The result is an estimate, not a loan offer or approval. Lenders may apply processing fees, insurance, variable rates and different day-count conventions.
Frequently asked questions
How accurate is this calculator?
It provides an estimate based on the values and assumptions entered. Verify important decisions with the relevant provider or a qualified professional.
Does this replace professional advice?
No. It is an informational tool and does not replace tax, legal, accounting, lending, investment or medical advice.
How to compare two loan offers
Keep the principal and tenure the same when comparing lenders, then change the annual interest rate. Review the monthly EMI alongside total repayment and total interest: a lower EMI can simply result from a longer tenure and may increase the overall borrowing cost.
Costs that may sit outside the EMI
Processing fees, documentation charges, insurance, floating-rate changes, late fees and prepayment conditions may not be included in this estimate. Ask the lender for the Key Facts Statement and amortisation schedule, and compare the annual percentage rate and total payable amount before accepting a loan. This calculator is an illustration, not a loan offer or approval.
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Browse all calculators AboutResults are estimates based on entered values and assumptions. They are not professional advice. Verify important decisions with the relevant provider or a qualified professional.