How is total interest calculated on a loan?

Total interest equals the sum of all monthly payments minus the original principal loan amount borrowed.

Are processing fees included in this calculation?

No, this calculates pure interest amortization. Banks typically charge a 0.5% to 2% one-time loan processing fee.

Yes, making prepayments directly reduces the principal balance, saving interest and shortening your overall loan term.

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Calculate monthly loan repayments, total interest costs, and payment summaries for personal, auto, and mortgage loans.

Loan Calculator Interactive Workspace

Client-side calculations and instant parameter controls are initializing. All processing occurs securely in your browser.

1 Enter the loan borrowing amount.
2 Provide the lender annual interest percentage rate.
3 Specify the loan duration in years or months.
4 Get an instant breakdown of monthly payments, total interest, and total repayment amount.

Monthly Payment = [P × r(1+r)^n] / [(1+r)^n − 1]

Calculations are performed with IEEE floating point mathematical precision directly in your device memory.

Input: Principal: ₹500,000 | Rate: 8.5% | Tenure: 5 Years

Result: Monthly: ₹10,258 | Total Interest: ₹115,500

Total cost over 60 monthly payments is ₹615,500.

Input: Principal: ₹100,000 | Rate: 10.5% | Tenure: 1 Year

Result: Monthly: ₹8,815 | Total Interest: ₹5,779

Short durations minimize total interest expense.

How is total interest calculated on a loan?: Total interest equals the sum of all monthly payments minus the original principal loan amount borrowed.
Are processing fees included in this calculation?: No, this calculates pure interest amortization. Banks typically charge a 0.5% to 2% one-time loan processing fee.
Can I pay off my loan earlier to save interest?: Yes, making prepayments directly reduces the principal balance, saving interest and shortening your overall loan term.

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