Loan & EMI Calculator — Monthly Payment, Total Interest | ToolCircuit
Calculate loan EMI, total payment, and total interest in months or years. Free online EMI calculator that runs client-side.
No uploads. Everything runs locally in your browser.
Calculate monthly EMI, total payment, and total interest for a loan. Enter amount, rate, and term in months or years. Runs client-side for privacy.
Formula: EMI = P * r * (1+r)^n / ((1+r)^n - 1); r = monthly rate, n = months. Zero-interest: EMI = principal / months.
Informational only — not financial advice. Check with a lender for exact terms.
Enter loan amount, rate, and term to calculate EMI.
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment for a loan, covering principal and interest until the loan is repaid.
How loan payments are calculated
Monthly rate = annual rate / 12. EMI = P * r * (1+r)^n / ((1+r)^n - 1). If interest is 0, EMI = principal / months.
Benefits & use cases
- Estimate monthly payments before applying for a loan.
- See total interest to compare offers.
- Switch term units and test zero-interest scenarios.
Disclaimer: Informational only, not financial advice.
Privacy: calculations run in your browser; nothing is uploaded.
How to use
- Enter loan amount, annual interest rate, and term (months or years).
- Click Calculate to see monthly EMI, total payment, and total interest.
- Copy the result or load a sample; clear to start over.
Features
- Monthly EMI with total payment and total interest
- Term in months or years with zero-interest handling
- Sample preset, copy, and clear actions
- Client-side calculations for privacy
FAQ
Is this free?
Yes. It runs in your browser and is free to use.
Do you store my data?
No. Inputs stay on your device.
What if interest is 0?
The EMI becomes principal divided by months; no interest.
Can I use years instead of months?
Yes. Switch the term unit to years and set the term value.
Is this financial advice?
No. It’s for informational use only.
Which formula is used?
EMI = P * r * (1+r)^n / ((1+r)^n - 1), with r = monthly rate and n = months.