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Calculate your loan payment (EMI), total interest, and total amount paid. Choose monthly or biweekly payments and see the full amortization schedule. Use for personal loans, auto loans, student loans, or any fixed-rate loan. Results include effective annual rate (EAR).
Monthly payment
$500.95
Total interest paid
$5,056.92
60 payments
Total amount paid
$30,056.92
Principal + interest
Effective annual rate
7.76%
APR compounded per period
| # | Principal | Interest | Payment | Balance |
|---|---|---|---|---|
| 1 | $344.7 | $156.25 | $500.95 | $24,655.3 |
| 2 | $346.85 | $154.1 | $500.95 | $24,308.45 |
| 3 | $349.02 | $151.93 | $500.95 | $23,959.43 |
| 4 | $351.2 | $149.75 | $500.95 | $23,608.22 |
| 5 | $353.4 | $147.55 | $500.95 | $23,254.83 |
| 6 | $355.61 | $145.34 | $500.95 | $22,899.22 |
| 7 | $357.83 | $143.12 | $500.95 | $22,541.39 |
| 8 | $360.07 | $140.88 | $500.95 | $22,181.33 |
| 9 | $362.32 | $138.63 | $500.95 | $21,819.01 |
| 10 | $364.58 | $136.37 | $500.95 | $21,454.43 |
| 11 | $366.86 | $134.09 | $500.95 | $21,087.57 |
| 12 | $369.15 | $131.8 | $500.95 | $20,718.42 |
| 13 | $371.46 | $129.49 | $500.95 | $20,346.96 |
| 14 | $373.78 | $127.17 | $500.95 | $19,973.18 |
| 15 | $376.12 | $124.83 | $500.95 | $19,597.07 |
| 16 | $378.47 | $122.48 | $500.95 | $19,218.6 |
| 17 | $380.83 | $120.12 | $500.95 | $18,837.77 |
| 18 | $383.21 | $117.74 | $500.95 | $18,454.56 |
| 19 | $385.61 | $115.34 | $500.95 | $18,068.95 |
| 20 | $388.02 | $112.93 | $500.95 | $17,680.93 |
| 21 | $390.44 | $110.51 | $500.95 | $17,290.49 |
| 22 | $392.88 | $108.07 | $500.95 | $16,897.6 |
| 23 | $395.34 | $105.61 | $500.95 | $16,502.27 |
| 24 | $397.81 | $103.14 | $500.95 | $16,104.46 |
| 25 | $400.3 | $100.65 | $500.95 | $15,704.16 |
| 26 | $402.8 | $98.15 | $500.95 | $15,301.36 |
| 27 | $405.32 | $95.63 | $500.95 | $14,896.05 |
| 28 | $407.85 | $93.1 | $500.95 | $14,488.2 |
| 29 | $410.4 | $90.55 | $500.95 | $14,077.8 |
| 30 | $412.96 | $87.99 | $500.95 | $13,664.84 |
| 31 | $415.54 | $85.41 | $500.95 | $13,249.3 |
| 32 | $418.14 | $82.81 | $500.95 | $12,831.15 |
| 33 | $420.75 | $80.19 | $500.95 | $12,410.4 |
| 34 | $423.38 | $77.57 | $500.95 | $11,987.02 |
| 35 | $426.03 | $74.92 | $500.95 | $11,560.99 |
| 36 | $428.69 | $72.26 | $500.95 | $11,132.29 |
| 37 | $431.37 | $69.58 | $500.95 | $10,700.92 |
| 38 | $434.07 | $66.88 | $500.95 | $10,266.85 |
| 39 | $436.78 | $64.17 | $500.95 | $9,830.07 |
| 40 | $439.51 | $61.44 | $500.95 | $9,390.56 |
| 41 | $442.26 | $58.69 | $500.95 | $8,948.31 |
| 42 | $445.02 | $55.93 | $500.95 | $8,503.28 |
| 43 | $447.8 | $53.15 | $500.95 | $8,055.48 |
| 44 | $450.6 | $50.35 | $500.95 | $7,604.88 |
| 45 | $453.42 | $47.53 | $500.95 | $7,151.46 |
| 46 | $456.25 | $44.7 | $500.95 | $6,695.21 |
| 47 | $459.1 | $41.85 | $500.95 | $6,236.1 |
| 48 | $461.97 | $38.98 | $500.95 | $5,774.13 |
| 49 | $464.86 | $36.09 | $500.95 | $5,309.27 |
| 50 | $467.77 | $33.18 | $500.95 | $4,841.51 |
| 51 | $470.69 | $30.26 | $500.95 | $4,370.82 |
| 52 | $473.63 | $27.32 | $500.95 | $3,897.18 |
| 53 | $476.59 | $24.36 | $500.95 | $3,420.59 |
| 54 | $479.57 | $21.38 | $500.95 | $2,941.02 |
| 55 | $482.57 | $18.38 | $500.95 | $2,458.46 |
| 56 | $485.58 | $15.37 | $500.95 | $1,972.87 |
| 57 | $488.62 | $12.33 | $500.95 | $1,484.25 |
| 58 | $491.67 | $9.28 | $500.95 | $992.58 |
| 59 | $494.75 | $6.2 | $500.95 | $497.84 |
| 60 | $497.84 | $3.11 | $500.95 | $0 |
Enter the loan amount, annual interest rate (APR), and loan term in years. Select monthly or biweekly payment frequency. The calculator computes the fixed payment per period (EMI), total interest paid, total amount paid (principal + interest), and the effective annual rate — the true annual cost when interest is compounded each payment period.
The amortization table shows every payment: principal portion, interest portion, total payment, and remaining balance. Early in the loan most of each payment goes to interest; over time more goes to principal until the balance is zero.
Monthly means 12 payments per year. Biweekly means 26 payments per year (every two weeks). Biweekly pays down the loan faster and reduces total interest. This calculator supports both so you can compare.
EMI (Equated Monthly Installment) is a fixed payment you make each period (monthly or biweekly) that includes both principal and interest. The amount stays the same over the loan term; early on more goes to interest, later more goes to principal. This calculator uses the standard annuity formula to compute EMI and the full amortization schedule.
The payment is calculated with the annuity formula: Payment = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, r is the interest rate per period (annual rate ÷ number of periods per year), and n is the total number of payments. For monthly payments, n = years × 12 and r = annual rate / 12. For biweekly, n = years × 26 and r = annual rate / 26.
The effective annual rate (EAR) is the true annual cost of the loan when interest is compounded each payment period. For example, a 7.5% nominal APR with monthly payments has an EAR of (1 + 0.075/12)^12 − 1 ≈ 7.76%. Biweekly payments compound 26 times per year, so EAR = (1 + APR/26)^26 − 1. EAR is useful for comparing loans with different payment frequencies.
Biweekly payments mean 26 half-sized payments per year instead of 12 monthly payments — effectively one extra monthly payment per year. That shortens the term and reduces total interest. This calculator shows the amortization for either frequency so you can compare total interest and payoff time.
Yes. This is a generic loan payment calculator. Use it for personal loans, auto loans, student loans, or any fixed-rate loan with level payments. Enter the loan amount, annual interest rate (APR), term in years, and payment frequency. You get the payment amount, total interest, total amount paid, effective annual rate, and full amortization schedule.
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