Loan Calculator
Detailed loan repayment estimator with annual principal and interest amortisation schedule.
About the Loan Calculator
The CalcNest Loan Calculator gives borrowers a complete picture of their loan commitments, monthly cash outflows, and cumulative finance costs. Explore yearly amortization tables to understand how your loan balance decreases over time.
Mathematical Formula
Deterministic EngineEMI = P × r × (1 + r)^n / ((1 + r)^n - 1) | Balance = Balance - Principal Paid Calculates monthly debt obligations and models how repayments are allocated between principal reduction and interest fees over the loan tenure.
Variables & Components
Worked Example: ₹5,00,000 Auto Loan at 9% p.a. for 5 Years
Financing a vehicle purchase with a 5-year loan of ₹5,00,000 at 9.0% reducing balance interest rate.
Step-by-Step Calculation
- 1 Convert tenure: 5 years = 60 monthly payments
- 2 Monthly interest rate: r = 9 / 1200 = 0.0075
- 3 Calculate Monthly Installment: EMI = ₹10,379.18 per month
- 4 Total Payment = 60 × ₹10,379.18 = ₹6,22,751
- 5 Total Finance Charge / Interest = ₹1,22,751
How to Use This Calculator
Enter your total borrowed Loan Amount in Rupees.
Enter the annual interest rate quoted by your lender.
Select the loan repayment tenure in years.
Toggle the yearly amortization schedule to see annual principal vs interest splits.