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Work out your monthly loan EMI in seconds. Enter the loan amount, interest rate and tenure to see your EMI, total interest and total payment — with a full amortization breakdown.
Instant, accurate & private — nothing is stored 0 EMIs calculated| Year | Principal | Interest | Balance |
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Get your monthly instalment in three quick steps.
Type the amount you want to borrow, or drag the slider. Pick your currency too.
Add the annual interest rate and the loan tenure in years or months.
Your monthly EMI, total interest and total payment update instantly, with a full schedule.
This free EMI calculator helps you plan any loan by working out your Equated Monthly Instalment (EMI) — the fixed amount you pay the lender every month until the loan is cleared. Use it as a home loan EMI calculator, car loan EMI calculator or personal loan calculator: just enter the loan amount, annual interest rate and tenure, and see your monthly payment, total interest and total repayment at a glance.
The EMI is calculated with the standard reducing-balance formula used by banks:
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
where P is the principal (loan amount), r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the number of monthly instalments. The tool also shows a year-by-year amortization schedule so you can see exactly how much of each year's payments goes toward principal versus interest, and how your outstanding balance falls over time.
Comparing offers or planning a budget? Try our Percentage Calculator for quick rate maths, or the Age Calculator and other free calculators.
Accurate, flexible and free — for every kind of loan.
Your EMI, total interest and total payment update the moment you change any value.
Drag the sliders for a feel, or type exact figures - both stay perfectly in sync.
A clear donut chart shows how much of your total payment is interest.
A year-by-year table shows principal paid, interest paid and the falling balance.
Pick from popular currencies, or hide the symbol for a plain number.
Every calculation runs on your device. Nothing is collected, stored or shared.
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EMI stands for Equated Monthly Instalment - the fixed amount you pay your lender every month, covering both interest and part of the principal, until the loan is fully repaid.
It uses the formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate / 12 / 100) and n is the number of months. This calculator does the maths for you instantly.
Yes. The same reducing-balance formula applies to home loans, car loans, personal loans, education loans and most other fixed-rate loans. Just enter that loan's amount, rate and tenure.
Amortization is how a loan is paid down over time. Early instalments are mostly interest, and later ones are mostly principal. The year-by-year schedule shows this split and your falling balance.
Yes - a longer tenure lowers the monthly EMI, but you pay more total interest over the life of the loan. A shorter tenure means a higher EMI but less interest overall.
It is accurate for a fixed interest rate using the standard formula. Your lender's actual figure may differ slightly due to processing fees, taxes, insurance or a different compounding or rounding method.
Yes. Every calculation runs entirely on your device. Nothing you enter is collected, transmitted or stored.
Yes. The layout, sliders and schedule all adapt to phones and tablets as well as desktop.
This EMI calculator is provided for general information and estimation only, and is not financial advice. Confirm exact figures with your lender before making any decision.