Loan / EMI Calculator
Monthly payment for any installment loan — auto, personal, student, business. Same math as a mortgage, simpler inputs.
Results
Monthly payment
$0.00
Total paid
$0
Total interest
$0
Number of payments
0
Principal
Interest
How loan amortization works
An installment loan has a fixed monthly payment. Each month, the lender takes interest on the remaining balance off the top, then uses the rest to chip away at principal. As the balance falls, less interest accrues, so more of your fixed payment goes to principal. That's why your balance drops slowly at first and fast at the end.
The formula
M = P · r(1 + r)n / ((1 + r)n − 1)
- M = monthly payment
- P = loan principal
- r = monthly rate (annual ÷ 12)
- n = total payments (years × 12)
Full schedule
| Month | Payment | Principal | Interest | Balance |
|---|