Loan Interest Rate Calculator

The Loan Interest Rate Calculator is a comprehensive financial tool designed to help borrowers calculate loan interest rates, monthly EMI payments, and understand the total cost of borrowing. Whether you're planning a personal loan, car loan, home loan, or business loan, this calculator provides accurate calculations to help you make informed financial decisions.

Key Features

This calculator offers three main calculation modes: EMI Calculator for standard monthly payment calculations based on loan amount, interest rate, and tenure; Interest Rate from EMI Calculator for reverse calculations to determine the interest rate when you know your monthly EMI; and Monthly Interest Rate Calculator to convert annual rates to monthly rates. Each mode is designed to provide detailed insights into your loan structure.

Loan Types Supported

The calculator supports various loan types including personal loans for individual borrowers, car loans for vehicle financing, home loans for property purchases, business loans for commercial purposes, and other specialized loan products. Each loan type may have different interest rate structures and terms, which the calculator takes into account when providing calculations.

Geographic Coverage

The calculator is designed to work for multiple countries including India with support for major banks like SBI (State Bank of India), HDFC Bank, ICICI Bank, Axis Bank, BOB (Bank of Baroda), and PNB (Punjab National Bank); United Kingdom for UK-based loans; Nepal for Nepalese borrowers; Singapore for Singaporean loans; and other countries with customizable interest rates.

Interest Rate Calculation Formula

The calculator uses the standard EMI formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12), and N is the number of monthly installments. For reverse calculations (interest rate from EMI), the calculator uses numerical methods like binary search to accurately determine the interest rate that matches your monthly payment.

Bank-Specific Rates

The calculator includes default interest rates for major Indian banks. SBI offers competitive rates for various loan types, HDFC Bank provides comprehensive loan solutions, ICICI Bank offers flexible loan products, Axis Bank provides competitive rates, BOB offers various loan options, and PNB provides loan solutions for different needs. These default rates are based on 2025 market rates and can be customized as needed.

Payment Schedule

The calculator generates a detailed payment schedule showing month-by-month breakdown of principal and interest payments. This schedule helps you understand how your loan payments are allocated over the loan term, showing how much goes toward principal reduction and how much goes toward interest. The schedule can be exported to CSV format for further analysis or record-keeping.

Practical Applications

Whether you're comparing loan offers from different banks, calculating your monthly EMI for budgeting purposes, determining the interest rate on an existing loan based on your monthly payment, or planning your loan repayment strategy, this calculator provides the tools you need. It's particularly useful for car loans in India, personal loans from SBI or HDFC, home loans for property purchases, and business loans for commercial purposes.

The Loan Interest Rate Calculator is designed to be user-friendly, accurate, and comprehensive, helping borrowers make informed decisions about their loans. With support for multiple countries, loan types, and banks, it's a versatile tool for anyone planning to take out a loan or managing existing loan obligations.