This loan calculator is a financial tool that calculates the monthly loan payments, total interest payable, and total amount payable on a loan based on the loan amount, interest rate, and loan term. The calculator takes these inputs and generates a report that shows the estimated monthly loan payment or Equated Monthly Installment (EMI), total interest payable over the loan term, and the total amount payable including principal and interest. This loan calculator is a useful tool for anyone who is planning to take out a loan, as it helps them understand the total cost of borrowing and make informed financial decisions.
Please note that the Loan Calculator tool is provided for informational purposes only and is not intended to be a substitute for professional financial advice. The tool is designed to assist you in managing your finances, but it should not be relied upon as the sole source of financial information.