Country modes — currency & EMI conventions
How LoanCalc Lab’s US / India-SEA / AU / CA / UK modes work, and what we assume about interest.
Published
LoanCalc Lab is multi-country. A country selector on relevant calculators sets currency symbol, number formatting and the payment label (EMI vs monthly payment/repayment).
Shared maths assumption
All modes use a reducing-balance amortising formula with a monthly rate equal to the annual percentage rate ÷ 12. That is a clear illustration — not a claim that every lender in every country compounds the same way (for example, some Canadian products use semi-annual compounding conventions).
- US — USD; “Monthly payment”
- India / SEA — INR; “EMI”; flat-rate loans out of scope
- Australia — AUD; comparison-rate rules differ by lender
- Canada — CAD; check disclosure for compounding
- UK — GBP; fees often sit outside headline rate — model them separately
Related
Calculators and articles on LoanCalc Lab are illustrative and not personalised financial advice or a credit offer. Always check the lender’s disclosure for your country before you borrow.