A loan calculator shows your monthly payment, or EMI, the total interest you will pay, and a full repayment schedule, before you sign anything. Use the right calculator for your loan type below to get an accurate estimate. Each tool works in more than 70 currencies and supports both reducing balance and flat rate, so you can compare offers fairly. The live calculator is on our home page, and the guides here explain exactly what to check for each kind of loan.
Choose your loan calculator
Pick the calculator that matches what you want to borrow:
Car Loan Calculator
Personal Loan Calculator
Business Loan Calculator
Student Loan Calculator
Mortgage (Home Loan) Calculator
What a loan calculator shows you
- Monthly EMI, the fixed amount you pay each month.
- Total interest, the real extra cost on top of the amount you borrow.
- Total payable, principal plus interest over the full term.
- Amortization schedule, how each payment splits between interest and principal.
- Flat vs reducing, so you can see why a flat rate costs more than it looks.
Compare loan types at a glance
Loans differ in term, security, and what matters most. This is a general guide, so always confirm details with your lender.
| Loan type | Typical term | Secured? | Main thing to check |
|---|---|---|---|
| Car loan | 1 to 7 years | Secured on the car | Down payment, flat vs reducing |
| Personal loan | 1 to 7 years | Usually unsecured | The real reducing rate and fees |
| Business loan | Varies | Often secured | Total cost against cash flow |
| Student loan | Long, after study | Often unsecured | When interest starts, grace period |
| Mortgage | 10 to 30 years | Secured on property | Down payment, fixed vs variable |
How to choose the right calculator
- Pick by loan type, using the cards above.
- Enter the amount, rate, and term, and set your currency.
- Compare flat vs reducing, so a low looking flat rate does not fool you.
- Read the total interest, not just the monthly figure, to judge the true cost.
Reducing balance vs flat rate
This single point decides whether you overpay. A reducing balance rate charges interest only on what you still owe, so it falls as you repay. A flat rate charges interest on the full original amount the whole time, so it costs much more. As a rough guide, a 5% flat rate is close to about 9.8% reducing over 5 years, almost double. Learn more with our flat rate calculator, reducing balance calculator, and the effective interest rate calculator for the true APR, or build a full amortization schedule.
Borrowing in a specific country? See our loan calculators by country for local currencies and rules.
Frequently asked questions
What is a loan calculator?
A loan calculator is a free tool that estimates your monthly payment, or EMI, the total interest, and a full repayment schedule from the loan amount, interest rate, and term you enter. It helps you plan and compare loans before you borrow.
Which loan calculator should I use?
Use the one that matches your loan: car, personal, business, student, or mortgage. Each is set up for that loan type, but they all use the same accurate payment math, so the result is consistent.
Do these calculators work for my currency?
Yes. Every calculator supports more than 70 currencies, so you can plan a loan in your own money. For local rate types and rules, see our calculators by country.
What is the difference between flat and reducing rate?
A reducing balance rate charges interest only on what you still owe, so it falls as you repay. A flat rate charges interest on the full original amount the whole time and costs more. A 5% flat rate is close to about 9.8% reducing over 5 years.
How accurate are the results?
The calculators use the standard bank amortization formula, so the estimate is close to what a lender will quote. Your final figures can differ due to fees, taxes, rounding, and lender policies, so treat the results as a guide, not an offer.
Built and maintained by Hira Fatima, BSc in Computer Science (BSCS)
Hira builds, tests, and maintains the calculators on loancalc.io and writes the guides that go with them.
How we calculate: Reducing balance uses the standard EMI formula; flat rate charges interest on the full original amount. | Last updated: June 2026
Disclaimer: This calculator gives estimates for planning only and is not financial advice. Your actual figures may differ due to fees, taxes, and lender policies. Confirm with your bank or lender before you borrow.