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Loan / EMI Calculator

Estimate the monthly payment, total interest, and payoff schedule of a fixed-rate loan.

Your inputs

Everything runs in your browser. Nothing is sent anywhere.

$

How much you borrow.

%

Fixed rate for the whole term. 0–100%.

years

Whole years, 1–50.

Your result

Monthly payment
$600
360 payments
Total interest
$115,838
Total payable
$215,838

Fixed-rate estimate excluding fees, insurance, and taxes. Educational estimate, not a loan offer or financial advice.

Balance vs. interest over time

$0$29K$57.9K$86.9K$115.8KStartYear 15Year 30
Remaining balanceInterest paid so far
Year 30

Remaining balance: $0 · Interest paid so far: $115,838

Year-by-year amortization

Same model as the headline result. Values rounded for display.
YearPrincipal paidInterest paidBalance
1$1,228$5,967$98,772
2$1,304$5,891$97,468
3$1,384$5,810$96,084
4$1,470$5,725$94,615
5$1,560$5,634$93,054
6$1,656$5,538$91,398
7$1,759$5,436$89,639
8$1,867$5,328$87,772
9$1,982$5,212$85,790
10$2,104$5,090$83,686
11$2,234$4,960$81,451
12$2,372$4,823$79,079
13$2,518$4,676$76,561
14$2,674$4,521$73,887
15$2,839$4,356$71,049
16$3,014$4,181$68,035
17$3,200$3,995$64,836
18$3,397$3,798$61,439
19$3,606$3,588$57,832
20$3,829$3,366$54,004
21$4,065$3,130$49,939
22$4,316$2,879$45,623
23$4,582$2,613$41,041
24$4,864$2,330$36,177
25$5,165$2,030$31,012
26$5,483$1,712$25,529
27$5,821$1,373$19,708
28$6,180$1,014$13,528
29$6,561$633$6,966
30$6,966$228$0

How it works

With monthly rate i = annual rate / 12 and n monthly payments, the fixed payment that exactly clears the loan is:

EMI = P × i × (1+i)n / ((1+i)n − 1)

(Zero interest simply splits the principal: P / n.) Each year's principal and interest split comes from the balance difference, so the table and the headline totals always agree.

A worked example

Borrow $100,000 at 6% fixed for 30 years: the monthly payment is $600, total interest is $115,838, and the total repaid is $215,838. After year one the balance is still $98,772 — early payments are mostly interest. Generated by the same engine as the live calculator above.

Limits

  • Fixed rate only — no variable rates, fees, insurance, or taxes.
  • No early-repayment modeling yet; extra payments would shorten the term.
  • Not a loan offer, approval, or personalized financial advice.

Frequently asked questions

What is an EMI?

An EMI (equated monthly installment) is the fixed amount you pay every month. Each payment first covers that month's interest; the rest reduces what you owe. That's why early payments barely dent the balance while later ones demolish it.

Why does a longer loan cost so much more?

Interest is rent on money, charged every month on the outstanding balance. Stretch the term and you pay rent for many more months — borrow $100,000 at 6% over 30 years and interest adds about $115,838 on top. Same rate, much bigger bill.

What isn't included?

Fees, insurance, taxes, variable rates, and early-repayment penalties. Real loan offers also depend on credit checks and lender terms — this calculator models a plain fixed-rate loan only.

Is this a loan offer or financial advice?

Neither. It's an educational estimate for a hypothetical fixed-rate loan. See the disclaimer.