Loan / EMI Calculator with Amortisation Schedule
Work out the monthly payment on a loan, the total interest, and see the full amortisation schedule.
- Monthly payment
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- Total repaid
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- Total interest
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- Interest as % of loan
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Amortisation schedule
| # | Payment | Interest | Principal | Balance |
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This tool runs entirely in your browser. Nothing you enter is uploaded to a server.
Enter a loan amount, an annual interest rate and a term to see the monthly payment, the total repaid and the total interest. The full amortisation schedule shows how much of each instalment goes to interest and how much reduces the balance. Nothing you type is sent anywhere.
How to use it
- Enter the loanAmount borrowed, the annual interest rate as a percentage, and the term in years or months.
- Read the summaryMonthly payment, total repaid and total interest update as you type. Interest as a percentage of the loan shows what the borrowing actually costs.
- Open the scheduleThe amortisation table breaks every instalment into interest and principal, with the remaining balance after each.
What an amortisation schedule tells you
A repayment loan is designed so that every instalment is identical, but what each instalment buys changes over the term. Interest is charged on whatever you still owe, so at the start — when the balance is largest — most of your payment goes to the lender as interest and only a little reduces the debt. As the balance falls, that ratio reverses.
The schedule makes this concrete. On a €20,000 loan over five years at 5.5%, the first instalment is roughly €92 interest and €290 principal; the last is under €2 interest. Seeing the split is what turns an abstract interest rate into an understandable cost.
The number worth looking at
Most people compare loans by monthly payment, which is the figure lenders advertise and the one that is easiest to make look attractive — stretch the term and any payment can be made small. The total interest tells you what that actually costs.
Doubling a term does not double the interest; it usually more than doubles it, because you are holding a large balance for far longer. The "interest as a percentage of the loan" figure is there for exactly this comparison: change the term and watch it move.
What this cannot tell you
It is arithmetic, not advice. It does not know your income, your other commitments or how secure your circumstances are, so it cannot tell you whether a loan is affordable. It also excludes everything a lender adds around the interest — arrangement fees, mandatory insurance, early repayment charges. Compare real offers by APR, which includes those, not by the interest rate alone.
It assumes a fixed rate for the whole term. On a variable-rate loan the payment changes whenever the rate does, so treat the output as a snapshot of today's rate rather than a forecast.
Privacy
The calculation runs entirely in your browser. There is no server, no request and no record. That is deliberate: loan calculators are usually hosted by companies who want to sell you a loan, and the numbers you enter become a sales lead. Here they stay on your device and disappear when you close the tab.
Frequently asked questions
How is the monthly payment calculated?
With the standard annuity formula: payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount borrowed, r is the monthly interest rate (the annual rate divided by 12) and n is the number of monthly payments. The tool prints the formula with your values filled in.
Why does so much of an early payment go to interest?
Interest is charged on the balance outstanding, and at the start the balance is at its highest. Each instalment is the same size, so as the balance falls the interest portion shrinks and the principal portion grows. On a long loan the first year can be mostly interest, which is exactly what the amortisation table is for — it makes that visible.
Will this match my bank's figure?
The interest maths will agree, and the totals should match closely. Individual instalments may differ by a few cents because lenders round each payment their own way. It will not match a real quote, though, because that includes arrangement fees, insurance and any charges the lender adds — none of which are part of a repayment formula.
What is the difference between the interest rate and the APR?
The interest rate is what is charged on the balance. The APR also folds in compulsory fees, so it reflects the true cost of the credit and is the figure to compare between lenders. This calculator works from the interest rate, so a loan with a low rate and high fees will look better here than it really is.
Does it handle a zero-interest loan?
Yes. At 0% the annuity formula divides by zero, so that case is handled separately — the payment is simply the amount divided by the number of months, and the tool says so.
Can I model overpayments?
Not yet. Overpayment modelling needs to know whether your lender shortens the term or reduces the payment, which changes the answer substantially. It is on the roadmap as its own tool rather than a checkbox here.
Is my financial information uploaded?
No. Everything is computed in your browser and nothing is stored. Loan amounts and salaries are exactly the kind of figure that should not be posted to a stranger's server.