EMI Calculator
Free online EMI calculator for home loan, car loan, and personal loan. See your monthly EMI, total interest, and amortization schedule instantly.
EMI Calculator — Calculate Your Monthly Loan EMI Instantly
Taking a home loan, car loan, or personal loan? Knowing your exact monthly EMI before you sign the loan agreement is the difference between comfortable repayment and financial stress. Our EMI Calculator gives you the precise monthly instalment, total interest payable, and complete amortisation schedule for any loan amount, tenure, and interest rate.
Enter the loan principal, annual interest rate, and tenure in years. Get the EMI amount, total interest, total payment, and a year-by-year breakdown showing how much of each payment goes towards principal versus interest. No signup, no cost.
How to Calculate Your EMI
1. Enter Loan Amount
Type the principal amount you want to borrow — for example, ₹25,00,000 for a home loan or ₹8,00,000 for a car loan.
2. Enter Interest Rate
Enter the annual interest rate offered by the bank or NBFC. Use the rate quoted in your sanction letter.
3. Set Loan Tenure
Choose the repayment period in years. Longer tenure means lower EMI but more total interest.
4. View Results
See your monthly EMI, total interest, total payment, and a complete amortisation schedule.
EMI Calculator Features
Amortisation Schedule
A year-by-year table of the principal and interest you pay, the total paid and the balance left at the end of each year.
Visual Breakdown
Pie chart showing the split between principal and total interest. Helps you visualise the true cost of borrowing.
Instant Recalculation
Change any input and the EMI, totals, chart and schedule update at once, so you can try one scenario after another.
Multiple Currencies
Show amounts with the rupee, US dollar, euro, pound or yen symbol, or the Australian, Canadian or Singapore dollar. Only the symbol changes; nothing is converted.
Type or Slide
Drag a slider, or type an exact figure into the box beside it — typed amounts can go past the end of the slider.
Free and Private
No signup, no tracking. Runs entirely in your browser with instant results.
How the EMI Is Calculated
The calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (years × 12). Total payment is EMI × n, and total interest is the total payment minus P.
For the schedule, each month’s interest is the balance still owed × r, and the rest of the instalment repays principal. The table adds up the twelve months of each year.
Worked example: a loan of ₹20,00,000 at 8.5% a year for 10 years (the calculator’s starting values).
- r = 8.5 ÷ 12 ÷ 100 = 0.0070833 a month, and n = 120 instalments.
- EMI = ₹24,797 a month.
- Total payment = ₹29,75,657, so the total interest is ₹9,75,657.
- In year 1 you pay ₹1,64,911 of interest and ₹1,32,655 of principal, leaving ₹18,67,345 to repay.
Amounts are rounded to the nearest rupee on screen; the calculation itself is not rounded, so multiplying the rounded figures can differ by a few rupees.