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EMI Calculator

Calculate monthly loan EMI, interest payable, and yearly amortization schedule for home, car, and personal loans.

EMI Loan Calculator

Presets:

Currency

Loan Amount ($)

Interest (% p.a.)

Loan Tenure

Quick Tenure:

Monthly EMI

$10,258 / month

Principal: $500,000 (81%)Interest: $115,496 (19%)

Principal Amount

$500,000

Total Interest Payable

$115,496

Total Amount Payable

$615,496

What does EMI Calculator do?

EMI (Equated Monthly Installment) formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n - 1), where P is Principal Loan Amount, r is Monthly Interest Rate (Annual Rate ÷ 1200), and n is Tenure in Months.

About EMI Calculator

Free online loan EMI calculator. Calculate exact Equated Monthly Installment (EMI), total interest payable, overall loan cost, and principal vs interest distribution. Includes quick loan presets (Personal, Car, Home) and yearly amortization repayment schedules with 100% browser privacy.

Features & Capabilities

Calculates monthly EMI, total interest, and total payable amount
Principal vs interest percentage distribution bar
Tenure toggle between Years and Months
Quick loan presets for Personal, Car, and Home loans
Yearly amortization repayment schedule table
1-click copy summary

Common Scenarios & Use Cases

Planning monthly budgets before taking a home, car, or personal loan
Comparing total interest costs across different loan tenures and interest rates
Viewing yearly principal vs interest repayment schedules (amortization)

EMI Repayment Formula

EMI = P * r * (1 + r)^n / ((1 + r)^n - 1)

P = Principal Loan Amount, r = Monthly Interest Rate (Annual Rate / 1200), n = Total Tenure in Months.

Worked Calculation Examples

Example 1: Calculate EMI for $500,000 home loan at 8.5% for 5 years (60 months)

Calculation: $500,000 × 0.007083 × (1.007083)^60 ÷ ((1.007083)^60 - 1)Result: Monthly EMI: $10,258 | Total Interest: $115,502 | Total Payable: $615,502

Example 2: Calculate EMI for $100,000 personal loan at 11% for 3 years (36 months)

Calculation: $100,000 × 0.009167 × (1.009167)^36 ÷ ((1.009167)^36 - 1)Result: Monthly EMI: $3,274 | Total Interest: $17,864 | Total Payable: $117,864

How to Use EMI Calculator

Enter Loan Amount & Rate

Type your principal loan amount and annual interest rate (% p.a.).

Select Loan Tenure

Enter tenure in years or months, or click a quick tenure chip.

View Monthly EMI & Amortization

See your monthly EMI, total interest, principal distribution, and yearly amortization breakdown.

Frequently Asked Questions

What is EMI and how is it calculated?

EMI stands for Equated Monthly Installment. It is calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal loan amount, r is the monthly interest rate, and n is the total number of monthly installments.

How can I reduce my monthly loan EMI?

You can reduce your monthly EMI by extending your loan tenure (which increases total interest paid), negotiating a lower annual interest rate, or making a larger upfront down payment.

Does EMI calculation include taxes or extra fees?

Standard EMI calculations focus strictly on principal loan repayment and interest charges. Processing fees, insurance, or taxes levied by financial institutions are separate.

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