Loan & EMI Calculator
Find your monthly instalment (EMI), total interest and full repayment cost for a home, car or personal loan.
Loan / EMI Calculator
How to use the Loan
- Enter the loan amount, yearly interest rate and tenure.
- Add a currency label if you want it shown in the results.
- Press "Calculate EMI" to see the monthly payment and schedule.
About this tool
EMI stands for equated monthly instalment, the fixed amount you pay each month until a loan is cleared. It is calculated from the loan amount, the monthly interest rate and the number of payments, using the reducing-balance method.
Early payments are mostly interest, and later payments are mostly principal. The yearly schedule shows how much of each year's payments goes to principal and interest, and what balance remains. A shorter tenure raises the EMI but cuts total interest. Fees, insurance and early-settlement charges vary by lender and are not included, so always check the bank's final offer.
Frequently asked questions
How is EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly rate (annual rate divided by 12) and n the number of months.
Does this work for flat-rate loans?
No. It uses the reducing-balance method. Flat-rate loans charge interest on the original amount, so their EMI will be different.
Does it include fees and insurance?
No. Processing fees, insurance and other charges depend on the lender and are not included.