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Free EMI Calculator

Loan EMI Calculator

Estimate your monthly EMI, total interest payable and total repayment amount for personal, business, home, used-car, education or other reducing-balance loans.

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Calculate Your Loan EMI

Enter your proposed loan amount, annual interest rate and repayment tenure. Results update instantly as you change the values.

Enter Loan Details

Use the interest rate quoted by your bank or NBFC for the closest estimate.

% p.a.
Months
There is no maximum month limit in this calculator. Enter any whole number greater than zero.

Loan Repayment Schedule

See how each EMI is divided between interest and principal over the repayment tenure.

Amortisation Schedule

Monthly repayment breakdown

Month Opening Balance EMI Principal Interest Closing Balance
Enter your loan details to generate the monthly repayment schedule.

How EMI Calculation Works

EMI is a fixed monthly repayment that includes both principal repayment and interest.

Loan Amount

This is the principal amount you borrow. Higher loan amounts generally produce a higher EMI when the rate and tenure remain the same.

Interest Rate

The annual interest rate is converted into a monthly rate for calculation. A higher rate increases the interest portion of your repayment.

Tenure in Months

A longer tenure may reduce the monthly EMI, but it can also increase the total interest paid over the life of the loan.

Standard Reducing-Balance EMI Formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)

P = loan amount, r = monthly interest rate, and n = total number of monthly instalments.

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