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Emi Affordability calculator
Work backwards from the monthly payment you can afford to find the largest loan you could take.
Loan Affordability
Enter your values below and press Calculate to see your result instantly.
Maximum Affordable Loan
$174,015
TOTAL INTEREST PAYABLE
$185,985
TOTAL REPAYMENT
$360,000
LOAN COMPOSITION
Principal
Interest
About the Emi Affordability calculator
Work backwards from the monthly payment you can afford to find the largest loan you could take.
How to use the Emi Affordability calculator
- Enter the Affordable Monthly EMI, the Interest Rate (%) and the Loan Tenure (Years).
- Press Calculate Max Loan.
Formula and method
Loan = EMI × (1 − (1 + r)⁻ⁿ) ÷ r, with r the monthly rate and n the number of months.
Worked example
An affordable EMI of $500 at 8% for 5 years supports a loan of about $24,659.
Tips
- Keep total EMIs below roughly 40 percent of your income.
- A longer tenure raises the loan you can afford but also the total interest.
Frequently asked questions
How do I decide what EMI I can afford?
Subtract essential expenses and savings from your take-home pay and leave a buffer.