Loan Calculator

Plan Your Finances with CashMyPayment

Take control of your finances with our easy-to-use Loan Calculator. Whether you’re planning for a personal loan, medical emergency, financial commitments, or household emergencies, our calculator helps you estimate your EMI (Equated Monthly Installment) in seconds.

How to Use the Loan Calculator?

  1. Enter the Loan Amount: The total amount you wish to borrow.
  2. Select Loan Tenure: Choose the repayment period that works best for you.
  3. Set Interest Rate: Enter the interest rate applicable for your loan.
  4. Calculate EMI: Click the button to instantly view your monthly EMI and repayment schedule.

Loan Model

Loan Amount: ₹5,000 to ₹1,00,000
Interest Rate: 0.2% – 1% per day
APR: 18% – 36% per annum
Age: 21 to 58 years
Late payment fee: as applicable (Charged only, if repayment is delayed)
Processing Fee: Up to 5% of the approved loan amount (deducted upfront)
Loan tenure: 90 days to 365 days
Pre-closure charges Nil (You can close your loan early without penalty)

Sample Loan Calculation (Example)

Loan amount: ₹1,00,000
Tenure: 12 Months
Rate of Interest: 32.64% per annum
Processing / Admin Fee: ₹2,000 (deducted upfront)
Annual Percentage Rate (APR): 35.96%
Disbursed Amount (after fees): ₹98,000
Monthly EMI: ₹9,847
Total Interest Payable: ₹18,168
Total Repayment Amount (Principal + Interest): ₹1,18,168

Try Our Loan Calculator

Calculate your EMI in just seconds! Fill out the details below:

Calculate EMI:

0 INR

Total Interest Payable:

0 INR

Total of Payments (Principal + Interest):

0 INR

FAQs

What is the purpose of the APR Calculator?

The APR (Annual Percentage Rate) Calculator helps borrowers estimate the total cost of a loan, including the interest rate and any additional fees, expressed as an annual percentage. It provides transparency and allows you to compare loan offers effectively.

How is APR different from the interest rate?

While the interest rate represents the cost of borrowing money, the APR includes additional charges like processing fees, loan origination fees, and other applicable costs, providing a more comprehensive view of the loan's overall cost.

What inputs are required for the APR Calculator?

To calculate the APR, you need to provide the following:

  • Loan amount
  • Interest rate
  • Loan tenure (duration)
  • Additional fees (if any)
How accurate are the results from the APR Calculator?

The APR Calculator provides an estimated value based on the inputs you provide. While it’s highly accurate, consult your lender for final numbers as they may vary based on specific terms and conditions.

Can the APR Calculator be used for all loan types?

Yes, the APR Calculator can be used for various loans, including personal loans, medical loans, household emergency loans, and more. It’s a versatile tool for comparing loan products.

Does the APR include penalties for late payments?

No, the APR does not factor in penalties for late payments or other post-loan disbursement charges. It is calculated based on upfront fees and interest.

Why is the APR important when comparing loans?

The APR provides a standardized way to compare the overall cost of different loans, even if their interest rates or fees vary. It helps borrowers choose the most cost-effective option.

Can the APR change during the loan term?

No, the APR remains fixed as it is based on the terms agreed upon at the time of loan disbursement. However, variable interest loans may lead to a change in your effective cost over time.

Is the APR Calculator free to use?

Yes, the APR Calculator on CashMyPayment is completely free and user-friendly, designed to simplify loan cost comparisons for borrowers.

Is the APR Calculator free to use?

Yes, the APR Calculator on CashMyPayment is completely free and user-friendly, designed to simplify loan cost comparisons for borrowers.

How do I use the APR Calculator on the CashMyPayment website?

Simply input the loan amount, interest rate, loan tenure, and any additional fees into the provided fields, and click "Calculate." The tool will display the APR and total cost of the loan instantly.

Can I use the APR Calculator to check different loan scenarios?

Yes, you can experiment with various inputs to understand how changes in interest rates, loan amounts, or fees affect your APR and total loan cost.