Work out the EMI, total interest and total amount payable for a personal, home or business loan.
Loan Calculator
The Loan Calculator computes the monthly payment, total interest, and repayment schedule for any personal or business loan, so you can compare offers before you sign.
See the true cost
Enter the loan amount, interest rate, and term to get the fixed monthly payment and, crucially, the total interest you will pay over the whole loan. Two loans with similar monthly payments can differ a lot in total cost once the term is factored in - this is where the calculator earns its keep.
Compare offers fairly
When comparing lenders, look beyond the headline rate: a lower rate over a longer term can still cost more overall. Use the calculator to line up each offer's monthly payment against its total interest, and factor in any processing or origination fees separately.
Frequently Asked Questions
What is the difference between the interest rate and total interest?
The rate is the annual percentage charged; total interest is the actual money paid over the whole term, which depends on the rate, amount, and length.
Should I choose the loan with the lowest monthly payment?
Not necessarily. A lower payment often means a longer term and more total interest. Compare total cost, not just the monthly figure.
Does it account for fees?
The core calculation covers principal and interest. Add any origination or processing fees separately to see the full picture.
Can I use it for business loans?
Yes. The same reducing-balance math applies to personal and business term loans alike.
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