Quickly estimate your personal loan EMI and total interest with our powerful, easy-to-use calculator. Take control of your finances with confidence.
Personal loans are unsecured financial instruments that provide borrowers with lump-sum funds, repayable over fixed terms. They are commonly used for:
This calculator enables you to compute EMI, total interest, amortization breakdowns, and more—offering essential data for financial planning.
EMI Formula:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]Where:
Extra payments are factored in as:
Sarah took a $10,000 loan at 9% APR for 3 years. After 8 months, she paid a $4,000 lump sum. Her new loan term reduced by 11 months and she saved $486 in interest.
Mike consolidated $15,000 debt into a 5-year loan at 11% APR. By adding $100 in monthly prepayments, he repaid the loan in just over 4 years and saved $1,150 in interest.
For technical context, explore Wikipedia or Investopedia.
Start planning smarter—calculate your loan now and see how small changes can lead to big savings.
| Loan Amount | Interest Rate | Term (Years) | Monthly Payment | Total Payment | Total Interest |
|---|---|---|---|---|---|
| $5,000 | 10% | 2 | $230.16 | $5,523.84 | $523.84 |
| $5,000 | 0% | 2 | $208.33 | $5,000.00 | $0.00 |
| $5,000 | 10% | 0.08 (1 month) | $5,041.67 | $5,041.67 | $41.67 |
| Payment # | Principal | Interest | Extra Payment | Remaining Balance |
|---|---|---|---|---|
| 1 | $150.00 | $50.00 | $0.00 | $4,850.00 |
| 2 | $152.00 | $48.00 | $50.00 | $4,696.00 |
| 3 | $154.00 | $46.00 | $250.00 | $4,292.00 |