Loan EMI Calculator
Easily calculate your monthly EMI, total interest, and repayment schedule.
Your loan breakdown chart will appear here.
Your Loan Results
Monthly EMI, total interest and repayment:
Monthly EMI
₹
Total Interest
₹
Total Payment
₹
Amortization Schedule
| Year | Total EMI | Principal Paid | Interest Paid | Closing Balance | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ | |||||||||||
| ||||||||||||||
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed payment you commit to every month until the loan is fully repaid. Each EMI includes two parts: the principal (the amount borrowed) and the interest (the lender’s charge for borrowing).
How is EMI Calculated?
The EMI is calculated using the formula:
- P = Loan amount (principal)
- R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N = Loan tenure in months
What Types of Loans Can You Use the EMI Calculator For?
You can apply this EMI calculator to almost any type of borrowing — including personal loans, home loans, business loans, education loans, and car loans. As long as you know the loan amount, the applicable interest rate, and the tenure, the calculator will give you accurate results.
What Does an EMI Consist Of?
An EMI always includes both principal repayment and interest. In the early stages of the loan, a larger portion of your EMI goes towards interest. As the loan progresses, the principal component gradually increases.
Benefits of Using an EMI Calculator
- Plan your budget: Estimate repayments in advance and manage cash flow better.
- Compare lenders: Check EMI differences across banks by adjusting rate and tenure.
- Instant results: Get quick calculations without manual effort.
- Accessible anytime: Online calculators are free and available 24/7.