Does this include arrangement fees?

No — this is the pure loan calculation. Add any upfront fees separately to see the true cost.

APR vs interest rate — which do I enter?

Enter the annual interest rate (or APR if it's the same figure). If your lender quotes an APR that includes fees, that's the fairest comparison.

Can I model overpayments?

Not on this page — for overpayments and early payoff scenarios, use the mortgage calculator, which supports monthly overpayments.

Loan & EMI Calculator

Enter loan amount, rate and term to see your monthly installment, total interest, and total repayment.

Your details

Loan amount

Interest rate (APR)

Term

Monthly installment (EMI)

£311

over 36 months

Total interest

£1,198

Total payment

£11,198

Principal vs interest

How this is calculated

An EMI (Equated Monthly Installment) is a fixed monthly payment covering both principal and interest, calculated so the loan is fully paid off at the end of the term.

The formula is EMI = P × r(1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (APR ÷ 12) and n is the total number of months.

Shorter terms mean higher monthly payments but much less total interest. Extending the term reduces the monthly hit but can dramatically increase the total you repay.