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Australia loan / emi calculator

This loan / EMI calculator estimates your fixed monthly repayment for a reducing-balance (amortising) loan. Enter the amount borrowed, annual interest rate, and term. Figures are shown in the selected country’s currency.

Currency AUD · Locale en-AU · Figures formatted for Australia

Nominal annual rate, not necessarily APR including fees.

Results

Monthly payment (EMI)
$313.36
Total amount payable
$11,280.96
Total interest
$1,280.96

How this calculator works

  • The calculator uses the standard EMI / amortising loan formula used by banks internationally.
  • Interest is converted to a monthly rate: annual rate ÷ 12.
  • Each payment covers interest for that month first; the rest reduces the principal.
  • If the interest rate is 0%, the payment is simply principal ÷ number of months.

Monthly payment = P × r(1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly rate, and n is the number of months. When r = 0, payment = P / n.

Worked example

You borrow 10,000 at 8% annual interest for 36 months (3 years).

Inputs

  • Principal10,000
  • Annual rate8%
  • Term36 months

Results

  • Monthly payment≈ 313.36
  • Total paid≈ 11,281.00
  • Total interest≈ 1,281.00

Frequently asked questions

What is EMI?

EMI means Equated Monthly Instalment — a fixed monthly payment that covers interest and principal over the loan term. The same maths underpins most amortising personal loans worldwide.

Does this include fees or insurance?

No. Arrangement fees, payment protection, late charges, and taxes are not included. Add those separately when comparing products.

Is the rate APR or nominal interest?

Enter the nominal annual interest rate your lender quotes for the reducing balance. APR can differ when fees are included — check your offer documents.

Can I model extra repayments?

Not in this version. Extra repayments reduce interest and term; ask your lender for an updated schedule if you pay ahead.

Sources and disclaimer

  • Standard amortising loan / EMI formula (reducing balance)

Estimates only — not financial advice. Results ignore fees, taxes on interest, early repayment charges, and product-specific rules. Verify with your lender or a qualified adviser.

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