💳 Loan Calculator
Works for any loan type — personal, student, business, or home. Find your monthly payment (EMI).
How EMI Is Calculated
This uses the standard loan amortization formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. This works for any fixed-rate installment loan — personal, student, business, or otherwise.
Guide: understanding your result
Key points
- A fixed-rate installment loan has the same payment every month; the interest share shrinks as the balance falls.
- A longer term lowers the monthly payment but raises the total interest you pay.
- APR includes certain fees, so it is the better number for comparing offers than the interest rate alone.
Worked example
Borrowing $15,000 for 48 months at 11.5% APR:
- Monthly payment: $391.34
- Total repaid: $18,784
- Total interest: $3,784
The same loan over 72 months costs $289.37 a month but $5,834 in interest.
Monthly payment per $10,000 borrowed
| Rate (APR) | 24 mo | 36 mo | 48 mo | 60 mo | 72 mo |
|---|---|---|---|---|---|
| 6.00% | $443 | $304 | $235 | $193 | $166 |
| 8.00% | $452 | $313 | $244 | $203 | $175 |
| 10.00% | $461 | $323 | $254 | $212 | $185 |
| 12.00% | $471 | $332 | $263 | $222 | $196 |
| 15.00% | $485 | $347 | $278 | $238 | $211 |
| 18.00% | $499 | $362 | $294 | $254 | $228 |
| 22.00% | $519 | $382 | $315 | $276 | $251 |
| 25.00% | $534 | $398 | $332 | $294 | $269 |
Common mistakes to avoid
- Choosing a loan by monthly payment alone instead of total cost.
- Ignoring origination fees, which raise the APR above the stated rate.
- Assuming every lender allows early payoff without a prepayment penalty — check your loan agreement.
Official sources
Examples are calculated live from the same data the calculator uses and are for education only — they are not financial, tax or investment advice.
⚠️ This calculator is for general informational and educational purposes only.
It does not constitute financial, tax, legal, or other professional advice, and results are
estimates that may not reflect your exact situation. GelirLab.com and its owners accept
no liability or responsibility for any decision made or action taken based on this tool.
Always consult a qualified professional (CPA, financial advisor, or attorney) before making
financial decisions.
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