Loan Calculator
Estimate a fixed-rate loan's monthly payment (EMI), amortization schedule, extra payments payoff acceleration, and loan comparison options.
Annual Amortization Schedule
| Year | Start Balance | Principal | Interest | Ending Balance |
|---|---|---|---|---|
| Yr 1 | 250,000 | 2,794 | 16,168 | 247,206 |
| Yr 2 | 247,206 | 2,981 | 15,981 | 244,224 |
| Yr 3 | 244,224 | 3,181 | 15,781 | 241,043 |
| Yr 4 | 241,043 | 3,394 | 15,568 | 237,649 |
| Yr 5 | 237,649 | 3,621 | 15,341 | 234,027 |
| Yr 6 | 234,027 | 3,864 | 15,098 | 230,163 |
| Yr 7 | 230,163 | 4,123 | 14,839 | 226,041 |
| Yr 8 | 226,041 | 4,399 | 14,563 | 221,642 |
| Yr 9 | 221,642 | 4,694 | 14,269 | 216,948 |
| Yr 10 | 216,948 | 5,008 | 13,954 | 211,940 |
| Yr 11 | 211,940 | 5,343 | 13,619 | 206,597 |
| Yr 12 | 206,597 | 5,701 | 13,261 | 200,896 |
| Yr 13 | 200,896 | 6,083 | 12,879 | 194,813 |
| Yr 14 | 194,813 | 6,490 | 12,472 | 188,323 |
| Yr 15 | 188,323 | 6,925 | 12,037 | 181,398 |
| Yr 16 | 181,398 | 7,389 | 11,573 | 174,009 |
| Yr 17 | 174,009 | 7,884 | 11,078 | 166,126 |
| Yr 18 | 166,126 | 8,412 | 10,551 | 157,714 |
| Yr 19 | 157,714 | 8,975 | 9,987 | 148,739 |
| Yr 20 | 148,739 | 9,576 | 9,386 | 139,163 |
| Yr 21 | 139,163 | 10,217 | 8,745 | 128,946 |
| Yr 22 | 128,946 | 10,902 | 8,061 | 118,044 |
| Yr 23 | 118,044 | 11,632 | 7,330 | 106,413 |
| Yr 24 | 106,413 | 12,411 | 6,551 | 94,002 |
| Yr 25 | 94,002 | 13,242 | 5,720 | 80,760 |
| Yr 26 | 80,760 | 14,129 | 4,833 | 66,632 |
| Yr 27 | 66,632 | 15,075 | 3,887 | 51,557 |
| Yr 28 | 51,557 | 16,084 | 2,878 | 35,473 |
| Yr 29 | 35,473 | 17,162 | 1,800 | 18,311 |
| Yr 30 | 18,311 | 18,311 | 651 | 0 |
Use any currency — results use the same currency as your inputs. Extra payments apply directly to reducing principal.
Calculate fixed-rate loan repayments, Equated Monthly Installments (EMI), annual amortization schedules, extra payment payoff acceleration, and side-by-side loan comparisons.
Fixed-Payment & EMI Formula
The monthly loan payment uses standard fixed-rate amortization:
- Monthly Payment (EMI):
P × [ r(1 + r)^n ] / [ (1 + r)^n - 1 ] - P: Principal loan amount
- r: Monthly interest rate (
Annual Rate ÷ 1200) - n: Total number of monthly installments (
Years × 12)
Worked Example
For a loan of 250,000 at an annual interest rate of 6.5% for 30 years (360 months):
- Monthly EMI:
≈ 1,580.17 - Total Amount Repaid:
1,580.17 × 360 ≈ 568,861.20 - Total Interest Paid:
568,861.20 - 250,000 = 318,861.20
Frequently Asked Questions
What is an Equated Monthly Installment (EMI)?+
An Equated Monthly Installment (EMI) is a fixed payment made by a borrower to a lender at a specified date each calendar month. EMIs apply to both principal and interest so that over a specified number of years, the loan is fully paid off.
How do extra monthly payments reduce my total loan cost?+
Any extra payment applied directly to your loan principal reduces the remaining balance upon which future interest is calculated. This drastically shortens the overall loan term and saves substantial interest.
How does comparing a 15-year vs 30-year loan help?+
A 15-year mortgage typically has slightly higher monthly payments because principal is paid down faster, but total lifetime interest paid is dramatically lower than a 30-year mortgage.
Can I use this calculator for home loans, personal loans, or car loans?+
Yes. As long as the loan uses fixed-rate monthly compounding and amortization, this calculator accurately models your monthly EMI payment and total interest cost.
Does this include fees, taxes, or insurance?+
No. The result models principal and interest only; lender fees, taxes, insurance, and variable rates require separate estimates.
Can this calculate a zero-interest loan?+
Yes. At zero interest, the payment is the principal divided evenly across the selected number of monthly payments.