Monthly Payment Calculator

FinanceLoan Loan Tools · Tool 1 of 6

Monthly Payment / EMI Calculator

Practical tip: start here. Your monthly payment decides what you can actually afford — run the numbers before you fall in love with a loan offer.

Run your numbers

Estimated monthly payment
Total interest
Total cost (principal + interest)
Number of payments
How it works: monthly payment = P × r(1+r)n / ((1+r)n−1), where r = annual rate ÷ 12 and n = number of months. With a 0% rate the payment is simply P ÷ n.

How to use this tool

1

Enter the amount you plan to borrow — the loan principal, not the purchase price. If you are putting money down, subtract it first.

2

Enter the annual interest rate exactly as the lender quotes it. This tool assumes a fixed rate for the whole term.

3

Enter the term in months or years. A longer term lowers the payment but raises total interest — try both to compare.

4

Press Calculate and read all three numbers. The monthly payment tells you if it fits your budget; total interest shows the true price of borrowing.

Keep reading: borrower guides

How to Read a Loan Amortization Schedule
How Does Loan Term Affect Monthly Payments and Total Cost
How to Calculate Your Monthly Loan Payment by Hand: Step by Step

Estimates only, not financial advice. Check final terms with your lender.