It uses the standard formula EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P is the principal, R the monthly interest rate and N the number of monthly installments.
Does this calculator store my data?
No. All calculations happen locally in your browser, nothing is sent to any server.
What is total interest?
Total interest is the difference between everything you pay over the loan tenure and the amount you originally borrowed.