Loan / EMI Calculator
Estimate your monthly loan payments, total interest, and repayment schedule.
Financial
Loan / EMI Calculator
Generated on April 24, 2026
Compare Scenarios
Each scenario can have one or more rate phases (useful for step-rate loans).
Monthly EMI
$1,887.12
Total Interest
$13,227.40
Total (5 yr)
$113,227.40
Starting EMI
$965.02
Final EMI
$1,195.94
Total Interest
$173,169.83
Total (20 yr)
$273,169.83
Tiered / Step-Rate Loans: Add more than one phase to model loans where the rate changes after a certain period (e.g. 5 years at 10%, then 15 years at 14%). EMI is recalculated at each rate change using the remaining balance and remaining term.
Side-by-Side Comparison
| Scenario | EMI (start → end) | Total Interest | Total Payable | Interest % | Verdict |
|---|---|---|---|---|---|
| 5 yr @ 5% | $1,887.12 | $13,227.40 | $113,227.40 | 13.2% | Cheapest |
| 5y@10% → 15y@14%TIERED | $965.02 → $1,195.94 | $173,169.83 | $273,169.83 | 173.2% | Most expensive |
Your total interest is modest relative to the principal
Visual Comparison
Outstanding balance of each scenario over time. Lines that drop faster = shorter, cheaper loans.
Step-by-step calculation
Formula
EMI = [P × r × (1+r)^n] ÷ [(1+r)^n − 1]. For tiered loans, EMI is recalculated at each phase with remaining balance + remaining term + new rate.
- 1Principal P = $100,000.00
- 2━ 5 yr @ 5% ━
- 3Monthly rate = 5 ÷ 12 ÷ 100 = 0.004167
- 4Months n = 5 × 12 = 60
- 5EMI = $1,887.12
- 6Total payable = $113,227.40
- 7Total interest = $13,227.40 (13.2% of principal)
- 8━ 5y@10% → 15y@14% (tiered) ━
- 9Phase 1: year 0–5 @ 10%
- 10 Starting balance: $100,000.00
- 11 EMI recalculated for 20 remaining years → $965.02
- 12 During this phase: interest $47,703.74, principal $10,197.56
- 13 Ending balance: $89,802.44
- 14Phase 2: year 5–20 @ 14%
- 15 Starting balance: $89,802.44
- 16 EMI recalculated for 15 remaining years → $1,195.94
- 17 During this phase: interest $125,466.09, principal $89,802.44
- 18 Ending balance: $0.00
- 19Total payable = $273,169.83
- 20Total interest = $173,169.83 (173.2% of principal)
- 21━ VERDICT ━
- 22Cheapest: 5 yr @ 5% — total interest $13,227.40
- 23Most expensive: 5y@10% → 15y@14% — total interest $173,169.83
- 24Savings by choosing cheapest: $159,942.43
?What is the Loan / EMI Calculator?
A Loan / EMI (Equated Monthly Installment) Calculator helps you estimate your fixed monthly repayment amount for any loan — home, car, personal, or student loan. Enter the loan principal, annual interest rate, and tenure to instantly see your monthly EMI, total interest payable, and total amount paid over the loan term. This is essential for anyone evaluating a loan offer, comparing lenders, budgeting around a new commitment, or deciding whether to prepay early. The calculator uses the standard reducing-balance method, which is how virtually all banks in Pakistan, India, the US, and Europe compute residential and consumer loans.
The Formula
P = loan principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = loan tenure in months. Uses the reducing-balance method.
Practical Examples
A PKR 1,000,000 home loan at 14% over 10 years gives a monthly EMI of ≈ PKR 15,527.
A $20,000 car loan at 6% over 5 years = monthly EMI $386.66, total interest ≈ $3,200.
A $50,000 student loan at 4.5% over 15 years = monthly payment $382.51.
Comparing 20-year vs 30-year mortgage shows how tenure affects total interest dramatically.
Frequently Asked Questions
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