EMI Calculator
Calculate your monthly loan EMI, total interest and full yearly schedule online for free. Works for home, car and personal loans — editable rates, instant results.
Formula: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
Please note: For estimates only. Results cover principal and interest — processing fees, insurance and other lender charges are not included. Verify with your lender before making decisions.
How to use the EMI Calculator
- Enter your loan amount, annual interest rate and term in months.
- Hit Calculate EMI to see your monthly payment and totals.
- Check the yearly table to see how principal and interest split over time.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month until your loan is repaid. Each payment covers part of the interest and part of the principal.
Does the calculator include processing fees?
No. It covers principal and interest only. Banks may add processing fees, insurance or other charges — check your loan agreement for the full cost.
Are the results exact?
They are estimates based on the numbers you enter. Real loan schedules can differ slightly due to rounding, payment dates and how your lender calculates interest.