EMI Calculator
Work out your monthly loan EMI, total interest, and total payment.
About This Tool
The EMI Calculator computes the Equated Monthly Instalment for a loan from the principal, annual interest rate, and tenure. It uses the standard reducing-balance EMI formula, so the figure matches what banks quote for home loans, car loans, and personal loans. It also shows the total interest paid over the loan and the total amount repaid.
All maths runs in your browser, so you can adjust inputs and see results update instantly.
- check_circleMonthly EMI from amount, rate, and tenure
- check_circleShows total interest and total repayment
- check_circleWorks for home, car, and personal loans
- check_circleInstant, browser-based calculation
Frequently Asked Questions
How is EMI calculated? expand_more
EMI uses the formula P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate, and n is the number of months. This is the standard reducing-balance method banks use.
Is the interest rate monthly or yearly? expand_more
Enter the annual rate. The calculator converts it to a monthly rate internally.
Does this include processing fees or insurance? expand_more
No. It calculates pure loan EMI. Banks may add processing fees, insurance, or other charges separately.