Loan Calculator
Calculate your monthly loan payment (EMI), total interest, and total cost from the loan amount, interest rate, and term.
About This Free Online Loan Calculator
Our free loan calculator works out your monthly payment, total interest, and total cost for any loan. Enter the loan amount, annual interest rate, and term in years, and the tool instantly shows your fixed monthly payment (EMI), how much interest you will pay over the life of the loan, and the total amount repaid. It uses the standard amortized-loan formula and handles zero-interest loans too. Perfect for car loans, personal loans, and student loans. All calculations run in your browser — nothing is sent to a server.
Features of Our Loan Calculator
- Monthly payment (EMI) from amount, rate, and term
- Total interest and total amount repaid
- Number of payments shown
- Handles zero-interest loans
- Live results as you type
- 100% private — browser-only processing
How to Use the Loan Calculator
Using this tool is simple and requires no signup or registration. Follow these steps:
- Enter the loan amount.
- Enter the annual interest rate and term in years.
- Read your monthly payment, total interest, and total paid.
- Adjust the numbers to compare different loans.
Frequently Asked Questions About Loan Calculator
How is the monthly loan payment calculated?
It uses the standard amortization formula: EMI = P·r·(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments. The tool computes this instantly.
What is EMI?
EMI stands for Equated Monthly Installment — the fixed amount you pay each month, covering both interest and principal, until the loan is fully repaid.
Does this include fees or insurance?
No. It calculates principal and interest only. Add any origination fees, insurance, or other charges separately for your true total cost.
Why Choose Text Toolbox?
Text Toolbox provides free, private, and instant online text tools. Unlike other text utility websites that require signup accounts or send your data to servers, all our tools process your text entirely in your browser. This means your content never leaves your device — we cannot see it, store it, or share it. Our tools are fast, lightweight, and work on any device with a modern web browser.