Loan EMI Calculator
Calculate EMI with a clear repayment schedule.
Estimate monthly EMI, total interest, and total repayment using loan amount, annual interest rate, and tenure. The result includes a principal-versus-interest view plus yearly and monthly amortization tables.
Result summary
Enter loan values to calculate EMI.
Monthly EMI, total interest, total payment, principal, and number of payments appear here after calculation.
Monthly EMI
Estimate excludes fees, taxes, insurance, prepayments, and lender-specific rounding.
How to use the calculator
Keep inputs in the same currency and compare different tenures before speaking with a lender.
Enter loan details
Add loan amount, currency, annual interest rate, and tenure.
Review monthly EMI
Check the estimated monthly payment and total repayment.
Inspect schedule
Use the amortization schedule to see principal and interest split.
What is EMI?
EMI means equated monthly instalment. It is the fixed monthly amount paid toward a loan when repayment follows a regular schedule. Each EMI contains interest for the period and a portion of principal repayment. Early payments usually include a larger interest portion; later payments reduce principal faster.
EMI formula
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1). P is principal, r is monthly interest rate, and n is number of monthly payments. Monthly rate is annual rate divided by 12 and converted from percent to decimal.
Zero-interest handling
When the interest rate is zero, the formula would divide by zero. The calculator handles this by dividing principal by total monthly payments, so total interest is zero and every payment reduces principal.
Worked example
For a loan of ₹10,00,000 at 8.5% annual interest over 20 years, the calculator estimates a monthly EMI from the monthly reducing balance formula. Total interest depends heavily on tenure. A longer tenure may lower monthly EMI but usually increases total interest because interest accrues for more months.
Use the principal-versus-interest bar to understand the repayment mix. If interest appears high, compare shorter tenures or lower rates. The monthly amortization schedule shows why early payments reduce balance slowly: more of each EMI goes toward interest at the start.
What the estimate excludes
This EMI calculator does not include processing fees, taxes, insurance, late fees, prepayments, floating-rate resets, or lender-specific rounding. Treat results as planning estimates, not final lender quotes or approval decisions.
Currency display does not convert the entered amount. If you select USD, enter a USD amount; if you select INR, enter an INR amount.
Frequently asked questions
Answers match current calculator behaviour.
What does this EMI calculator show?
It shows estimated monthly EMI, total interest, total payment, yearly summary, and a monthly amortization schedule.
Does currency selection convert values?
No. Currency selection changes display denomination only. Enter loan amount in the same currency you select.
How is zero interest handled?
When annual interest is 0%, EMI is calculated as principal divided by number of monthly payments.
Can this replace a lender quote?
No. It excludes lender fees, taxes, insurance, rate resets, and product-specific rounding rules.
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