EMI Calculator

Enter the loan principal amount, annual interest rate, and loan tenure (in months or years). Click Calculate and the tool instantly shows your monthly EMI, total amount payable, total interest cost, and a full amortization schedule showing the principal and interest breakdown for every month.

EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan over its tenure. It is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate / 12), and n is the number of months.

Yes. The EMI Calculator works for any type of loan — home loan, car loan, personal loan, education loan, or business loan. Simply enter the loan amount, interest rate, and tenure specific to your loan type to get accurate monthly payment estimates.

Increasing the loan tenure reduces your monthly EMI but significantly increases the total interest paid over the life of the loan. Shorter tenures mean higher monthly payments but much lower total interest cost. Use our calculator to compare different tenure options and find the right balance.

An amortization schedule is a month-by-month breakdown of your loan repayment, showing how much of each payment goes toward the principal and how much goes toward interest. In early months, more of your payment is interest. Over time, the principal portion grows. Our calculator generates a full amortization table.

Yes. Enter a prepayment amount and the month of prepayment to see how it reduces your outstanding principal, shortens your remaining tenure, and reduces total interest paid. Prepaying even a small amount early in the loan term can save significant interest.

The calculator uses the standard EMI formula and provides highly accurate results for fixed-rate loans. Actual EMI from banks may vary slightly due to processing fees, rounding methods, or specific terms of your loan agreement. Always confirm exact figures with your lender.

Yes. The standard EMI formula used by our calculator applies to reducing balance (diminishing balance) loans, which is the most common type used by banks for home, car, and personal loans. Flat rate EMI calculations differ and are rarer — specify if your loan uses a flat interest rate.

Yes. The EMI Calculator is fully mobile-responsive and works in any browser on iPhone or Android. All inputs are touch-friendly and results update instantly as you adjust sliders or input values.

Yes, completely free. No sign-up, no ads interrupting your calculation, and no premium features locked away. Calculate EMI for as many scenarios as you need instantly.