Estimate an equated monthly installment, total interest and total payment from the loan amount, annual rate and tenure.
Use the fixed-rate estimate to compare tenures for the same principal. The workspace divides the entered annual percentage rate by 12 for its monthly rate.
Your input stays on this device for this operation. We don’t upload or store it.
Use the fixed-rate estimate to compare tenures for the same principal. The workspace divides the entered annual percentage rate by 12 for its monthly rate.
The formula models a fixed payment on a declining balance.
At zero interest, principal is divided by the number of months.
Set Loan Amount in your chosen currency units.
Enter the annual nominal rate and a tenure in years equivalent to whole months.
Compare Monthly EMI, Total Interest and Total Payment.
Principal, annual percentage rate and tenure → monthly EMI and totals
Enter 120, 0% and one year for a monthly installment of 10 and total interest of zero.
It uses one fixed nominal rate for all payments.
