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Loan/EMI Calculator

Monthly EMI & total interest

Calculate the monthly EMI, total interest, and total payable amount for any loan based on the principal, interest rate, and tenure.

Loan amount
Annual rate (%)
Tenure (years)
Enter a loan amount, annual rate, and tenure to calculate your EMI.

About the loan/emi calculator

The loan EMI calculator works out the fixed monthly installment (EMI) for an amortizing loan such as a home loan, car loan, personal loan, or education loan. Enter the loan amount, the annual interest rate, and the loan tenure in years, and the tool shows the monthly payment, the total interest you will pay, and the overall amount you will repay.

EMI stands for Equated Monthly Installment — the fixed amount you pay every month for the loan term. Each EMI covers part of the principal and part of the interest. As the loan progresses, the interest portion shrinks and the principal portion grows, while the monthly total stays the same.

The formula

  • EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
  • P = loan principal, r = monthly rate (annual ÷ 12 ÷ 100), n = number of months
  • Total interest = EMI × n − P

How to use the loan/emi calculator

  1. Enter the loan amount

    Type the principal you wish to borrow.

  2. Enter the annual interest rate

    Use the yearly rate offered by your lender (e.g. 8.5 for 8.5%).

  3. Enter the tenure in years

    Type how many years you will take to repay the loan.

  4. Read your EMI

    The monthly payment, total interest, and total payable update instantly.

Frequently asked questions

What is an EMI?
An Equated Monthly Installment is the fixed monthly payment you make to repay a loan over its tenure. Each payment covers both interest and a portion of the principal.
How is the EMI calculated?
EMI = 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 monthly installments.
Does a longer tenure lower my EMI?
Yes. A longer tenure spreads the principal over more months, lowering the EMI — but it increases the total interest you pay over the life of the loan.
Does this account for processing fees or prepayments?
No. This calculator covers the standard amortizing loan. Processing fees, prepayments, and balloon payments are not included.
Is the loan EMI calculator free?
Yes, it is completely free and requires no account or sign-up.

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