EMI Calculator
Calculate monthly EMI, total interest payable and full amortization schedule for any loan — home, car, personal or education.
How to Use EMI Calculator
1
Enter your loan amount — Type the amount or drag the slider. Supports up to ₹1 Crore.
2
Set the interest rate — Enter the annual interest rate offered by your bank or lender.
3
Choose tenure — Switch between years and months, then set your repayment period.
4
See instant results — Monthly EMI, total interest, and a full year-by-year amortization table appear immediately.
Frequently Asked Questions
EMI stands for Equated Monthly Installment — a fixed payment amount made by a borrower each month to repay a loan. Each EMI includes both a principal and an interest component.
EMI = P × r × (1+r)^n ÷ ((1+r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly installments.
Any loan — home loan, car loan, personal loan, education loan, gold loan, or business loan. As long as you have the principal, interest rate, and tenure, this calculator works for all of them.
Yes. This uses the standard reducing-balance EMI formula used by banks and financial institutions in India and worldwide. Results match those from RBI-regulated lenders.
No. This calculator only accounts for principal repayment and interest. Processing fees, GST, insurance premiums, and prepayment charges are not included in the calculation.