Last updated: September 16, 2026
Loan EMI Calculator
Exact EMIs for auto, personal & student loans — know the true cost.
Your loan details
Fixed-rate amortizing loan with equal monthly payments. Excludes origination fees and insurance. Educational estimate, not financial advice.
Monthly payment (EMI)
$512.91
60 payments
Total interest
$5,774.80
Total payable
$30,774.80
Year-by-year payoff schedule
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $6,154.96 | $4,190.73 | $1,964.23 | $20,809.27 |
| 2 | $6,154.96 | $4,561.15 | $1,593.81 | $16,248.12 |
| 3 | $6,154.96 | $4,964.31 | $1,190.65 | $11,283.81 |
| 4 | $6,154.96 | $5,403.11 | $751.85 | $5,880.70 |
| 5 | $6,154.96 | $5,880.70 | $274.26 | $0.00 |
Never Sign a Loan You Haven't Modeled
Lenders advertise rates; borrowers pay EMIs plus years of interest. A $25,000 auto loan at 8.5% over 60 months costs about $5,800 in interest alone — numbers the showroom never volunteers. Two minutes with the sliders above turns any offer into its true lifetime cost before you commit.
Planning bigger money moves? The mortgage calculator handles home loans with down payments, and the investment growth calculator shows what saved EMI money becomes over decades.
True Cost First
Lifetime interest beside every EMI, always visible.
Private Figures
Loan amounts never leave your browser.
Compare in Seconds
Rate vs term trade-offs answered instantly.
Frequently Asked Questions
How is a loan EMI calculated?
With the amortization formula: EMI = P×i÷(1−(1+i)^−n) on principal, monthly rate, and months. Every payment splits into interest and principal; the split shifts toward principal over time, shown year by year above.
Should I pick a shorter term or lower EMI?
Shorter terms cost dramatically less interest but demand higher EMIs — stretch only to what your monthly budget survives comfortably. Compare both with the term slider: the lifetime-interest gap is usually the deciding number.
Does prepaying a loan save money?
Yes — extra payments attack principal directly, cutting both interest and term. Even one extra EMI per year typically shaves years off long loans. Model it by shortening the term slider to match.
What is the difference between flat and reducing-balance rates?
Reducing-balance (used here and by most banks now) charges interest only on outstanding principal. Flat-rate quotes look lower but cost more — always compare using the reducing-balance EMI before signing.
Are fees included in this estimate?
No — origination fees, insurance, and processing charges sit outside the EMI. Add them to the loan amount mentally (or subtract from affordability) when comparing real offers.
Is my loan data private here?
Completely. All math runs locally in your browser — amounts, rates, and terms never leave your device.
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