Estimate a fixed monthly loan payment from principal, annual interest rate and repayment term. The calculation is a mathematical comparison, not a lender quote or financial advice.
How to use this tool
- Enter the principal and annual percentage interest rate.
- Choose months or years for the term and enter its length.
- Select Calculate EMI and review monthly payment, total payment and total interest.
How to interpret the result
The model assumes a constant annual rate divided into monthly periods, equal end-of-month payments and no extra repayments. It excludes fees, taxes and insurance. Tenure is rounded to whole months; zero interest divides principal equally across them.
Frequently asked questions
Why does a lender quote differ?
A lender can use different compounding, rounding, fees or payment timing. Compare the lender complete repayment schedule and total charges rather than this estimate alone.