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Flat Rate Loan Calculator
Work out EMI, total payment and interest for flat-rate loans, where interest is charged on the full loan amount for the entire tenure. Results update instantly in your browser.
HOW TO USE
- 1Enter the loan amount in rupees.
- 2Enter the flat interest rate per year.
- 3Enter the tenure in years.
- 4Monthly EMI, total payment and total interest update instantly.
EXAMPLE
INPUT
Loan: ₹1,00,000 · Flat rate: 8% · Tenure: 3 years
OUTPUT
Monthly EMI: ₹3,444 Total payment: ₹1,24,000 Total interest: ₹24,000
FAQ
What is a flat-rate loan?
In a flat-rate loan, interest is charged on the full principal for the entire tenure. The total interest is calculated upfront: principal × rate × years.
How does flat rate compare to reducing balance?
Flat rate is usually more expensive. Because interest is charged on the full amount even as you repay, the effective cost is roughly double the equivalent reducing-balance rate.
Where is flat rate commonly used?
Personal loans and vehicle financing often quote flat rates because they sound lower than the effective annual rate.
Is my loan data sent anywhere?
No. All calculations run in your browser.