Loan Calculator
Monthly payment and total loan cost.
501
Monthly payment
5,057
Total interest
30,057
Total cost
How to use the Loan Calculator
- 1 Enter loan amount, interest rate and term.
- 2 See your monthly payment.
- 3 Review total interest and total repayment.
Frequently asked questions
Is this the same as an EMI calculator?
Yes — "EMI" (Equated Monthly Installment) is the term used in some regions for the same fixed monthly loan payment this calculator computes.
How can I lower my monthly payment?
Borrow less, secure a lower interest rate, or choose a longer term. A longer term lowers the monthly payment but increases the total interest you pay over the life of the loan.
What is the difference between the interest rate and total interest?
The interest rate is the annual percentage charged on the outstanding balance. Total interest is the sum of all interest paid across the whole term, which the calculator totals for you.
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