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EMI Calculator
Use our free EMI Calculator to estimate your monthly loan payment,
total interest, and total repayment amount quickly and easily.
EMI Calculation Results
Monthly EMI
-
Loan Principal
-
Total Interest
-
Total Payment
-
Amortization Schedule
| Month |
Payment |
Principal |
Interest |
Remaining Balance |
What Is an EMI?
EMI stands for Equated Monthly Installment. It is the regular amount
a borrower pays each month toward a loan. The payment generally
includes both principal and interest.
How Does the EMI Calculator Work?
This calculator uses the loan amount, annual interest rate, and loan
term to estimate the monthly installment. For a standard reducing-rate
loan, the monthly interest rate is derived from the annual rate and
applied to the outstanding balance.
EMI Formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P = Loan Principal
r = Monthly Interest Rate
n = Total Number of Monthly Payments
Important:
This calculator provides an estimate. Actual loan payments can vary
depending on lender fees, taxes, insurance, payment frequency,
interest method, and other loan terms.
Example
Suppose you borrow $10,000 at an annual interest rate of 8% for 5 years.
Enter those values above and select Years. The calculator will estimate
the monthly payment and show the total interest and total repayment.
Frequently Asked Questions
Is this EMI Calculator free?
Yes. The calculator is free to use and does not require registration.
What information do I need to calculate EMI?
You need the loan amount, annual interest rate, and loan tenure.
What happens if the interest rate is 0%?
When the interest rate is 0%, the calculator divides the principal
equally across the total number of monthly payments.
Does this calculator include lender fees?
No. The basic calculation estimates principal and interest only.
Processing fees, taxes, insurance, and other charges may change the
actual repayment amount.
Can I use months instead of years?
Yes. Use the Loan Term unit selector to choose Months or Years.
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