Repayment Calculator
Solve for monthly payment, find your payoff date, or model early repayment savings — with full amortization schedule and comparison chart.
Loan Details
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What is a Repayment Calculator?
A repayment calculator is an essential financial tool that helps borrowers understand the true cost of a loan over its lifetime. Whether you're taking out a personal loan, car finance, student loan, or any other type of credit, a repayment calculator instantly shows you how much you'll pay each month, how long repayment will take, and exactly how much of your money goes toward interest versus the original principal.
Our calculator goes further than the basics — it offers three distinct modes: Solve for Payment (find your monthly EMI), Solve for Time (discover how long to pay off a balance with a fixed payment), and Early Repayment (see how extra payments drastically reduce interest and shorten your loan term).
How Monthly Repayment is Calculated
The standard formula for a fixed monthly repayment (EMI) on an amortizing loan is:
Where P = principal, r = monthly interest rate (annual rate ÷ 12), and n = total number of monthly payments. Each payment covers that period's interest first; the remainder reduces the principal — a process called amortization.
Smart Repayment Tips
Understanding Amortization
In the early months of a loan, the majority of each payment goes toward interest — not principal. As time progresses and the balance decreases, the interest portion shrinks and more of each payment reduces the principal. This is why early repayment is so powerful: paying down principal early eliminates many future interest charges.