Monthly EMI
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Total Interest
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Total Payment
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Estimate only — excludes processing fees and other loan charges.
Amortization Schedule (Yearly)
| Year | Principal Paid | Interest Paid | Remaining Balance |
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Disclaimer: This calculator provides an estimate based on the inputs and standard formulas. Actual returns/values may vary due to market conditions, compounding frequency, fees, taxes, and other factors. This is not financial, investment, or tax advice — please consult a qualified advisor before making financial decisions.
EMI Calculator – Loan EMI Calculator
Estimate your monthly EMI for any loan. Adjust the inputs above and results update instantly.
EMI (Equated Monthly Instalment) is the fixed monthly payment you make toward repaying a loan — covering both principal and interest — over its tenure. This calculator works for any type of loan (personal, home, car, education) using the standard amortization formula.
Frequently Asked Questions
How is EMI calculated?
Using the formula: EMI = P × r × (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 instalments.
Does the EMI amount change over the loan tenure?
No, for a standard fixed-rate loan the EMI stays constant, but the split between principal and interest changes each month — early payments are mostly interest, and that shifts toward principal over time.
Can I reduce my total interest paid?
Yes, by making prepayments toward the principal, opting for a shorter tenure, or negotiating a lower interest rate, you can reduce the total interest paid over the loan.