Loan Interest Calculator
Calculate the total interest payable on any loan. Understand how much you'll pay in interest over the entire loan tenure.
Results
Total Interest
₹0
Avg Monthly Interest
₹0
Interest as % of Principal
0.00%
How to Use Loan Interest Calculator
- 1
Enter your loan principal amount
- 2
Input the annual interest rate
- 3
Specify the loan tenure in months
- 4
View the total interest and monthly breakdown
Loan Interest Calculator Formula
Total Interest = (EMI × Tenure) - PrincipalExample Calculation
Input Values
Loan Amount
₹5,00,000
Interest Rate (Annual)
10 %
Loan Tenure
60 months
Results
Total Interest
₹1,37,417
Avg Monthly Interest
₹2,290
Interest as % of Principal
27.48%
Frequently Asked Questions
How can I reduce my loan interest?
You can reduce interest by making prepayments, choosing a shorter tenure, or negotiating a lower interest rate with your lender.
Is loan interest tax deductible?
Home loan interest up to ₹2 lakh is tax deductible under Section 24(b). Education loan interest is fully deductible under Section 80E.
What is the difference between flat and reducing rate?
Flat rate calculates interest on the full principal throughout, while reducing rate calculates on the outstanding balance, resulting in lower total interest.