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See what a loan really costs across its full term.
Enter the amount, rate and term to see the monthly payment and total cost.
Monthly payment = P x r x (1 + r)^n / ((1 + r)^n - 1) Total cost = Monthly payment x n
The same amortisation formula used for EMIs. Total interest is the total cost minus the principal.
A personal loan of 5,00,000 at 12% for 5 years.
The monthly payment is about 11,122 and the loan costs roughly 1,67,000 in interest over 60 months.
The maths is identical. This page frames the answer around the full cost of borrowing, while the EMI calculator focuses on the monthly instalment and a year-by-year breakdown.
Not directly. A practical workaround is to calculate the loan again with the reduced outstanding amount and the remaining tenure.
Annual. The calculator converts it to a monthly rate internally.
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