Loan Calculator - Monthly Payment & Interest Estimator
Estimate your monthly EMI, total interest and total repayment for personal, auto and home loans using our Free Loan EMI Estimator. Built for North America, available in English and Spanish.
No sign-up, no credit check ? just a fast estimate you can adjust anytime.
Use it to test payments for a new car (even EVs like a Tesla), a personal loan, or a starter home mortgage before you talk to a lender.
Want concrete examples? Try our free loan EMI estimator examples page .
This estimator uses standard EMI math (fixed-rate, equal monthly installments). Actual loan terms depend on the lender.
Ready to compare offers? Scroll down to view lenders and marketplaces where you may find prequalified loan options.
Money stress is real. If debt is affecting your sleep or mood, consider talking with a trusted friend, a non-profit credit counselor, or a mental health professional in your area. This tool only estimates numbers and does not replace personal financial or medical advice.
- We don’t store your personal data.
- We don’t sell your information.
- Results are estimates, not loan offers.
How this Loan EMI Estimator works
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan. It includes both principal and interest. This tool uses the standard EMI formula assuming a fixed interest rate and equal monthly payments over the entire tenure.
If you want a focused experience just for calculations, you can also use the dedicated Free Loan EMI Estimator page to run quick scenarios and review your estimated monthly payment, total interest and total repayment.
EMI formula (for reference)
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
- P = loan amount
- r = monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = total number of monthly payments
Tips to reduce your EMI burden
- Compare offers from multiple lenders before you decide.
- Consider a longer tenure to lower each payment (but watch total interest).
- Make extra payments when possible to reduce your outstanding principal.
- Refinance if rates fall or your credit profile improves.
Important notice
This estimator is for information and educational purposes only. It does not take into account all factors a lender may use, and it does not constitute financial or legal advice. Actual loan terms, rates, fees and payments are determined by your chosen lender or financial institution.
Want to learn more? Read: How EMI works, How to lower your EMI, and Personal loan vs. credit card.
Dive into the math behind every EMI with our article How to calculate EMI .
Personal loan: $20,000 over 5 years – see example EMI
Loan & EMI learning guides (Spanish)
Prefer to read in Spanish? Here are detailed guides that explain how EMI works, how to choose a loan term, and how to compare personal loans vs credit cards.
Loan calculator FAQ
Quick answers to common questions about using this loan calculator.
Does this loan calculator affect my credit score?
No. This calculator is for information and education only. It does not send your data to lenders or perform a credit check, so it has no impact on your credit score.
What types of loans can I estimate with this tool?
You can use this calculator for most fixed-rate installment loans, including personal loans, auto loans and home loans. Just enter your loan amount, interest rate and term in months to see an estimated monthly payment.
Is this loan calculator free to use?
Yes. Loan EMI Estimator is free to use. You can run as many scenarios as you like with no registration and no hidden charges.
Are the results guaranteed to match my lender's offer?
No. The calculator uses a standard EMI formula and your inputs, but real loan offers depend on your credit profile, fees and lender policies. Always review the official terms from your chosen lender.