Loan EMI calculator
Work out a monthly payment from a principal, a yearly interest rate, and a term in months. See the total you would pay and the interest inside it. Nothing is sent to a server.
How the payment is counted
The monthly rate is the yearly percent divided by 12 and then by 100. The payment is principal times that rate times (1 plus the rate) to the power of the months, divided by that power minus 1. The page rounds the payment to the cent, then multiplies by the months for the total.
For a principal of 100000 at 12 percent over 12 months, the monthly rate is 0.01. One plus that rate, to the 12th power, is 1.12682503. The payment is 8884.88. Total payment is 106618.56, and total interest is 6618.56.
At 0 percent the formula would divide by zero, so this page does not use it. The monthly amount is the principal divided by the number of months, total payment equals the principal, and total interest is 0. Choose PKR for a rupee label, or Number for the same figures with no currency symbol.
Questions
How is the monthly payment calculated?
The payment uses the standard amortization formula. Divide the yearly rate by 12 and then by 100 to get the monthly rate. Apply that rate across the months in the term. The figure is then rounded to the cent. At 0 percent the payment is the principal divided by the months.
What do total payment and total interest mean?
Total payment is the monthly amount times the number of months. Total interest is that sum minus the principal. On 100000 at 12 percent for 12 months, the monthly payment is 8884.88, the total payment is 106618.56, and the interest is 6618.56. A 0 percent loan shows interest of 0.
Can I show the result in PKR?
Choose PKR to place the rupee label in front of each figure, or choose Number to show the same math with no currency symbol. The formula does not change between the two. This page does not convert one currency into another, and it never prints a dollar sign.
Does this include fees or a changing rate?
No. The calculator assumes one fixed yearly rate and one principal for the whole term. It does not add fees, insurance, taxes, or extra payments along the way. If a lender can change the rate, treat this figure as a sketch of the starting terms. The numbers stay in your browser.