Calculate Your Loan EMI
Calculate loan EMI, total interest and payment schedule.
How to use the EMI Calculator
Enter the loan amount
The principal you intend to borrow, before any fees the lender adds separately.
Add the interest rate and tenure
Use the annual rate the lender quoted, and the term in months or years.
Compare the results
Read the monthly EMI, the total interest and the amortisation schedule. Try a shorter tenure to see what it saves.
About the EMI Calculator
An EMI, or Equated Monthly Instalment, is the fixed amount you hand over each month until a loan is repaid. Every payment covers both interest and principal, but not in equal parts: early payments are mostly interest and later ones are mostly principal, which is why paying off a loan early saves less than people expect and why the total cost is so much larger than the amount borrowed.
This calculator takes the loan amount, the annual interest rate and the tenure and applies the standard amortisation formula to give you the monthly instalment, the total interest paid over the life of the loan, and the full repayment schedule month by month. It works for a home loan, a car loan, a personal loan or any other fixed-rate instalment product.
The number worth studying is not the EMI but the total interest. Extending a tenure lowers the monthly payment and is often presented as the affordable option, while quietly increasing what the loan costs in total, sometimes by a very large margin. Comparing two or three tenures side by side before committing is the single most useful thing this calculator does. Results are estimates for planning, not a formal quotation.
Frequently asked questions
- What is an EMI?
- An Equated Monthly Instalment is the fixed amount you pay each month until a loan is repaid. It covers both principal and interest.
- How is EMI calculated?
- From the principal, the monthly interest rate and the number of months, using the standard amortisation formula. The calculator applies it for you.
- Does a longer tenure cost more?
- Yes. A longer tenure lowers the monthly payment but increases total interest paid. Compare tenures before choosing.