Payment Calculator

Calculate the fixed periodic payment needed to repay any loan or financed purchase.

Free to use
Accurate results
No registration required
Works on all devices

Enter the amount financed, interest rate, and tenure to calculate your fixed payment.

Amount financed *

₹

Interest rate *

Tenure *

months

Your result

₹9,680.16

Monthly payment

Total interest₹48,485.76

Total payment₹3,48,485.76

AI explanation

Formula

Payment = P × r × (1+r)^n / [(1+r)^n − 1], where r is the monthly interest rate and n is the number of payments

Worked example

₹3L financed, 10%, 3 years

Worked example: ₹3L financed, 10%, 3 years
Field	Value
Amount financed	300000
Interest rate	10
Tenure	36
Monthly payment	9680.16
Total interest	48485.76
Total payment	348485.76

Assumptions

Applies to any fixed-rate, fixed-term financed purchase — a loan, a financed appliance, a vehicle, or similar.
Informational only.

Frequently asked questions

What determines the size of my payment?

Three factors: the amount financed, the interest rate, and the repayment term — a higher amount or rate increases the payment, while a longer term decreases it (but increases total interest paid).

Is this the same as an EMI calculator?

Yes — "payment" here refers to the same equated periodic installment (EMI) used for loans, generalized to any financed purchase.

How can I lower my monthly payment?

Extend the repayment term, negotiate a lower rate, or reduce the financed amount with a larger upfront payment — each lowers the periodic payment, though a longer term increases total interest.

Related calculators

Sources

Master Circular on customer service and fair practices code — Reserve Bank of India. Effective 01-07-2015, reviewed 13-09-2026.

This calculator provides a general estimate only and does not constitute financial advice.

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