EMI & Loan Calculator
Calculate your monthly loan payment (EMI), total interest and full repayment schedule for home, car or personal loans. Free and private.
■ principal 63.1% ■ interest 36.9%
How is a loan EMI calculated?
EMI stands for equated monthly instalment: the fixed amount you pay every month until a loan is repaid. It covers part of the original amount (the principal) and the interest, in a split that changes over time.
Enter the loan amount, the yearly interest rate and the tenure. You see the monthly payment, the total interest and the total you will repay, and you can open the full month-by-month schedule.
What is EMI?+
EMI (equated monthly instalment) is the fixed amount you pay each month to repay a loan, covering both interest and part of the principal.
How is EMI calculated?+
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate and n is the number of monthly payments.
Does a longer tenure save money?+
A longer tenure lowers the monthly EMI but increases the total interest you pay. A shorter tenure does the opposite.
Is my data stored?+
No. The calculation runs in your browser and nothing is sent or saved.