Loan Repayment Calculator
This Loan Repayment Calculator helps you estimate your monthly EMI and the total repayment amount over the life of your loan based on the principal, interest rate, and loan term.
EMI and Total Loan Repayment Calculator
Loan Repayment Formulas
\[
EMI = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}
\]
\[
\text{Total Repayment} = EMI \times n
\]
Where:
- $$P$$ = Loan principal (amount borrowed)
- $$r$$ = Monthly interest rate (annual rate divided by 12)
- $$n$$ = Total number of monthly payments
- $$EMI$$ = Equated Monthly Installment
- $$Total Repayment$$ = Total amount paid over the loan term
The Loan Repayment Calculator helps borrowers plan their loan commitments by estimating the monthly EMI and total repayment amount. It’s a valuable tool for budgeting mortgages, car loans, personal loans, and any type of installment-based borrowing.