EMI Calculator
Calculate your monthly loan EMI, total interest, total repayment and view your complete repayment schedule.
Enter Loan Details
Enter your loan amount, interest rate and repayment period.
The calculator converts the entered years into monthly repayment periods.
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Estimated monthly loan payment
Principal & Interest
Repayment Summary
Year-Wise Loan Repayment
See how much principal and interest you are expected to pay during each year of the loan.
| Year | Opening Balance | Principal Paid | Interest Paid | Total Payment | Closing Balance |
|---|---|---|---|---|---|
| Enter loan details to view schedule. | |||||
Monthly Repayment Schedule
Detailed month-by-month breakdown of principal, interest and outstanding loan balance.
| Month | EMI | Principal | Interest | Closing Balance |
|---|---|---|---|---|
| Enter loan details to view schedule. | ||||
How EMI Is Calculated
EMI stands for Equated Monthly Instalment. It is the fixed amount generally paid every month toward the principal and interest on a loan.
Loan Amount
This is the principal amount borrowed from the lender.
Interest Rate
The annual interest rate determines the cost charged by the lender on the outstanding loan.
Loan Tenure
A longer tenure can reduce monthly EMI but generally increases total interest paid.
EMI
The monthly EMI combines repayment of principal and interest.
Standard EMI Calculation
P = Principal loan amount, R = monthly interest rate, and N = total number of monthly instalments.
Important Information
This calculator provides an estimate based on the loan amount, interest rate and tenure entered by the user.
Actual EMI can vary depending on the lender, interest-rate type, processing fees, insurance, taxes, prepayments and other loan terms.
This calculator does not include processing fees, insurance or other charges unless they are included in the loan amount.
EMI Calculator FAQ
What is EMI?
EMI stands for Equated Monthly Instalment. It is the amount paid periodically toward repayment of a loan, generally consisting of both principal and interest.
Does a longer loan tenure reduce EMI?
A longer tenure generally reduces the monthly EMI because repayment is spread over more months. However, the total interest paid over the life of the loan can increase.
Does a higher interest rate increase EMI?
Yes. For the same loan amount and tenure, a higher interest rate generally results in a higher EMI and greater total interest.
Can I use this calculator for home loans?
Yes. You can use this calculator for home loans, personal loans, car loans and other loans that use a standard reducing-balance EMI structure.
Does this calculator include processing fees?
No. Processing fees, insurance and other lender charges are not included in the standard EMI calculation.
Can I use the calculator for a floating-rate loan?
You can use the calculator to estimate EMI using the current interest rate. However, actual payments can change if the lender changes the interest rate or loan terms.