Personal loan / EMI payment calculator
Work out a reducing-balance monthly payment (EMI), total interest and amount repayable — with country-aware currency and labels.
LoanCalc Lab editorial · Methodology: reducing-balance EMI / amortisation with disclosed assumptions (fees optional where shown) · Last checked:
Your inputs
Add fees (optional)
Results
Monthly repayment
£317.53
Total interest
£1,431
Total repayable (incl. fee)
£11,431
Net proceeds (after fee)
£10,000
First-year interest (approx.)
£768
Illustrative only — not personalised financial advice and not a credit offer. Rates, fees and terms vary by lender and country. Check the lender’s disclosure before you borrow. Full calculator disclaimer.
Equations & assumptions
M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan, r is the monthly rate (annual ÷ 12 ÷ 100), and n is the number of months.
- Capital-and-interest reducing balance; monthly rate = APR ÷ 12. Representative APR on UK credit ads may include fees — we model fees separately unless stated.
- Fixed rate for the whole term; monthly payments in arrears.
- Optional upfront fee is added to total repayable and reduces net proceeds; it is not rolled into the amortising balance unless you add it to the loan amount yourself.
Notes & FAQs
- Is EMI the same as a monthly instalment?
- Yes for reducing-balance loans. “EMI” is the common label in India/SEA; elsewhere we show “monthly payment” or “repayment”. Maths are the same reducing-balance formula.
- Do you support flat-rate loans?
- No — this calculator models reducing-balance only. Flat-rate quotes often look cheaper but cost more; convert or ask the lender for the reducing-balance / APR equivalent.