Loan Calculator

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Annual Interest rate (%)

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Additional payments with Extra fees

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Some Result

Monthly payment

Total interest paid

Number of payments

Total to be repaid

Amortization schedule 

 → Monthly Breakdown / Yearly Breakdown

charts

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Why Use This Loan Calculator?

What is a Personal Loan?
A personal loan gives you access to a lump sum of money upfront, which you then repay to the lender over an agreed period of time. Loans come in both secured and unsecured forms, each carrying different levels of risk and varying interest rates. 

How is a Loan Payment Calculated?
The monthly repayment amount is calculated using this formula:
PMT = [ r + r / ((1+r)^t - 1) ] × P

Where PMT is your monthly payment, r is the annual interest rate divided by 12, P is the principal loan amount, and t is the total number of months.

Example: A loan of ₹1,00,000 at 5% annual interest for 12 months gives a monthly payment of approximately ₹8,561.

Loan calculator formula

The loan calculator featured on this page uses the following formula to calculate repayment figures:

PMT = [ r + r / ((1+r)^t -1) ] x P

Where:

• PMT = monthly payment amount
• r = annual interest rate (decimal) / 12
• P = principal loan amount
• t = time in months
• ^ = ... to the power of …

Making Extra Payments
Some lenders allow you to make additional monthly or quarterly payments on top of your minimum required payment. However, always ensure extra payments go toward the principal and not just interest — check this with your lender before making overpayments.

Important Note
This calculator provides estimated figures for planning purposes only. Actual loan terms, interest rates, and repayment amounts will vary based on your lender, credit profile, and applicable fees. Always consult your financial institution for exact figures before making any borrowing decisions.