🏦 Loan EMI Calculator

Calculate your monthly loan EMI and view the full repayment schedule instantly.

🏦

Loan EMI Calculator

Enter loan details to get your monthly EMI

Monthly EMI
—
Principal Amount
—
Total Interest
—
Total Amount
—
Tenure
—

What is an EMI Calculator?

An EMI (Equated Monthly Instalment) Calculator is a financial tool that helps borrowers calculate the fixed monthly payment they need to make to repay a loan over a specified period. Whether you're planning a home loan, car loan, or personal loan, knowing your EMI in advance helps you manage your finances better.

EMI Formula

EMI is calculated using the formula: EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]

  • P = Principal loan amount
  • r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
  • n = Total number of monthly installments

How to Use the EMI Calculator

  • Enter the Loan Amount (principal you want to borrow).
  • Enter the Annual Interest Rate provided by your bank.
  • Enter the Loan Tenure in years.
  • Click "Calculate EMI" to get your monthly payment, total interest, and full amortization table.

Example Calculation

For a home loan of ₹50,00,000 at 8.5% per annum for 20 years:

  • Monthly EMI: approximately ₹43,391
  • Total Interest Paid: approximately ₹54,13,840
  • Total Amount Paid: approximately ₹1,04,13,840

Frequently Asked Questions

What does EMI stand for?+
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay to your lender every month until the loan is fully repaid. It includes both the principal repayment and the interest charged for that month.
Does a higher tenure reduce my EMI?+
Yes, a longer loan tenure reduces your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure means higher EMI but less total interest. Use our calculator to compare different tenure options.
Can I use this for car loans and personal loans?+
Absolutely! Our EMI calculator works for any type of loan — home loans, car loans, personal loans, education loans, and more. Just enter the loan amount, interest rate, and tenure to get your EMI.
What is an amortization schedule?+
An amortization schedule is a detailed table showing the breakdown of each payment over the loan term. It shows how much of each payment goes towards the principal and how much goes towards interest, along with the remaining balance after each payment.
How does prepayment affect my loan?+
Making prepayments reduces your outstanding principal, which in turn reduces the total interest you pay. You can choose to either reduce your EMI amount or keep the EMI the same and reduce the loan tenure. Contact your bank for specific prepayment terms.