Loan Calculator
Calculate loan payments.
Frequently Asked Questions
How does the down payment affect my loan?
The down payment is subtracted from the total price to determine the actual loan amount you need to borrow. A larger down payment means lower monthly payments and less total interest.
How is the monthly payment calculated?
We use the standard amortization formula EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the loan amount (price minus down payment), r is the monthly interest rate, and n is the number of monthly installments.