WeVividWeVividWork out the interest rate on a loan from its payments.
There's no direct algebraic formula to solve for the rate, so this tool uses bisection: it repeatedly tests rates between 0% and 100%, calculates the EMI each would produce with the standard reducing-balance formula, and narrows in on the rate whose EMI matches what you entered.
It's handy when you know your loan amount, monthly payment and tenure (for example, from an offer or an existing loan) but the lender hasn't clearly stated the annual interest rate.