Loan Interest Calculator
See how much total interest you would pay on a fixed-rate loan when you make two different monthly payment amounts.
Interest accrues each month on the remaining balance; each payment covers interest first, then principal.
Min payment — total interest
₹ 0.00
(₹ 0.00 average per month)
Max payment — total interest
₹ 0.00
(₹ 0.00 average per month)
How to Use This Calculator
- Enter the beginning balance of the loan and the fixed annual percentage rate.
- Enter a lower minimum monthly payment and a higher maximum monthly payment to compare (minimum must be ≤ maximum).
- Click Calculate to see total interest and the average interest per month for each payment level.
Frequently Asked Questions
What does “average per month” mean?
Total interest paid divided by the number of months until the loan is paid off at that payment amount.
Why won’t it calculate?
If a payment is less than or equal to one month’s interest on the balance, the principal never decreases. Raise the payment, lower the rate, or reduce the balance.
Is this what my lender will charge?
This is a simplified amortization model. Fees, daily compounding, and grace periods can differ by lender.
