Personal loan calculator
Monthly instalment and total cost of a personal loan.
Estimate for information only — not financial, tax, legal or medical advice.
How it's calculated
EMI = P·r·(1+r)^n / ((1+r)^n − 1), r = annual rate / 12, n = months. If r = 0, EMI = P / n.
- Fixed rate for the whole term
- No processing fees, insurance or taxes included
Version 1.0 · exact decimal maths · inputs are not stored.
Questions
How can I compare two offers?
Run both through the calculator with the same amount and term and compare total interest. Add any upfront fees to the total yourself.
Is a flat rate the same as this rate?
No. Some lenders quote a “flat” rate on the original amount, which is much more expensive than the same number as a reducing-balance rate used here.