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Loan EMI Calculator

Instantly calculate monthly EMI, total interest & full amortization schedule

Currency
₹
₹10K ₹10Cr
%
1%30%
1 Yr30 Yr
Monthly EMI
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Principal —
Interest —
Total Interest
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Total Payable
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Year Principal Paid Interest Paid Balance
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How to Use the EMI Calculator

  1. Select a loan type — tap a preset pill (Home, Car, Personal, Education) to auto-fill typical values.
  2. Adjust Loan Amount — drag the slider or type the amount directly. Choose your preferred currency symbol.
  3. Set Annual Interest Rate — enter the rate quoted by your lender (typically 7–18%).
  4. Choose Tenure — toggle between Years and Months, then set the repayment period.
  5. Read the results instantly — monthly EMI, total interest, and the principal vs interest split are shown in real time.
  6. View Amortization — expand the schedule to see year-by-year principal paid, interest paid, and outstanding balance.

EMI Formula Explained

EMI = P × r × (1 + r)n / [(1 + r)n − 1]
P — Principal loan amount
r — Monthly interest rate (Annual Rate ÷ 12 ÷ 100)
n — Number of monthly instalments (tenure in months)

Why Use an EMI Calculator?

Instant Calculation
Get your EMI in milliseconds — no spreadsheets or manual formula needed.
Compare Scenarios
Slide the tenure or rate to instantly see how EMI and total interest change.
Visual Breakdown
The donut chart shows exactly how much goes to principal vs interest at a glance.
Full Amortization
Year-by-year schedule shows your outstanding balance and how the split evolves.
Multi-currency
Switch between ₹, $, €, and £ to plan loans in any currency you need.
Free & Private
100% free, no sign-up, no data stored. Calculations happen in your browser.

Frequently Asked Questions

What is EMI?

EMI (Equated Monthly Instalment) is the fixed amount you pay to the lender every month to repay a loan over a set tenure. Each payment covers both interest and a portion of the principal.

How does tenure affect EMI and total interest?

A longer tenure reduces your monthly EMI but significantly increases the total interest paid. A shorter tenure means higher EMI but much lower overall cost. Use the slider to find the optimal balance.

What is the difference between flat rate and reducing balance rate?

This calculator uses the reducing balance method (used by most banks), where interest is charged on the outstanding principal each month. A flat rate charges interest on the original principal throughout, which is effectively a higher cost. Always confirm which method your lender uses.

Does the calculator include processing fees or prepayment charges?

No. This calculator computes pure EMI based on principal, rate, and tenure. Processing fees, insurance premiums, and prepayment penalties vary by lender and should be factored in separately when evaluating the total loan cost.

Can I use this for home, car, and personal loans?

Yes — the EMI formula is the same for all loan types. Simply tap the preset pill for the type of loan you need, adjust the values to match your lender's offer, and read the result instantly.