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Loan / EMI Calculator

Calculate your monthly EMI, total payment and total interest for any loan.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term

Quick presets

What is a EMI Calculator?

An EMI (Equated Monthly Instalment) calculator is a free financial tool that helps you calculate the fixed monthly payment amount for a loan. Whether you are planning a home loan, car loan, personal loan or any other type of loan, this tool instantly shows your monthly EMI, total interest payable and total repayment amount.

How to Use — Step by Step

Enter your loan amountType the principal loan amount — the total amount you wish to borrow from the bank or lender.

Set the interest rateEnter the annual interest rate offered by your lender. This is usually shown as a percentage per annum (p.a.).

Choose your loan tenureSelect how many months or years you want to repay the loan over. A longer tenure means lower EMI but more total interest.

View complete breakdownSee your monthly EMI, total interest payable and total repayment amount. The chart shows how much of each payment goes to principal vs interest.

Common Uses

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Home Loans

Calculate affordable monthly payments for a mortgage or home loan before applying to a bank.

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Car Loans

Find out the monthly EMI for a vehicle loan and compare different loan amounts and tenures.

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Personal Loans

Plan personal loan repayments for medical expenses, travel, weddings or home renovation.

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Education Loans

Calculate student loan EMIs to plan monthly repayments after graduation.

Frequently Asked Questions

What is EMI?

EMI stands for Equated Monthly Instalment — the fixed monthly payment you make to repay a loan. Each EMI consists of a principal component and an interest component.

How is EMI calculated?

EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the principal, R is the monthly interest rate and N is the number of months.

Does a higher tenure reduce EMI?

Yes — a longer tenure reduces your monthly EMI but increases the total interest you pay over the life of the loan.

Is this EMI calculator free to use?

Yes — completely free with no signup required. Calculate as many loan scenarios as you need.