EMI Calculator
Compute your monthly loan EMI along with total interest and total amount payable.
What is the EMI Calculator?
The EMI Calculator instantly works out the equated monthly instalment on any loan — home, car, personal or education. Enter the loan amount, annual interest rate and tenure in months or years and the tool returns the monthly payment along with total interest and total repayment.
EMI is the fixed amount you pay every month until the loan is closed. It is calculated using the standard reducing-balance formula so the split between principal and interest changes each month. Seeing this breakdown up front helps you budget realistically and compare loan offers on a like-for-like basis.
Every calculation happens on your device. You can freely enter your actual salary, savings goals or private lending numbers without them ever being sent to a server.
How to use the EMI Calculator
- 1Enter the loan amount you want to borrow.
- 2Enter the annual interest rate as a percentage.
- 3Set the tenure in months or years.
- 4Read the monthly EMI, total interest and total amount payable.
- 5Adjust any input to see how EMI shifts in real time.
- 6Optionally view the month-by-month amortisation schedule.
Key features
- Instant monthly EMI calculation
- Total interest and total payment breakdown
- Amortisation schedule (month-wise principal & interest)
- Interactive sliders for what-if analysis
- Supports any currency
- Runs offline in the browser
Examples
Home loan
A ₹50,00,000 home loan at 8.5% for 20 years yields an EMI of about ₹43,391 and total interest of ₹54,13,879.
Car loan
A ₹8,00,000 car loan at 10% for 5 years results in an EMI of ~₹16,997.
Personal loan
A ₹2,00,000 personal loan at 14% for 3 years works out to ~₹6,835 per month.
Why use this tool
- Know exactly what you will pay every month
- Compare offers by total interest, not just headline rate
- Plan prepayments to save interest
- Runs offline — safe for private financial data
- Free and unlimited
Common use cases
- Shopping for a home loan
- Deciding between two car finance offers
- Planning a personal loan repayment
- Modelling prepayment scenarios
- Teaching students how loans work
Frequently asked questions
How is the EMI calculated?
Using the formula EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal, r = monthly rate, n = tenure in months.
Does it include processing fees?
No — fees vary by lender. Add them to the principal if you want to model the true cost.
Is the interest fixed or floating?
The calculator assumes a fixed rate. For floating rates, recalculate after each reset date.
What is total interest?
The sum of every month’s interest component — the extra you pay above the principal over the loan life.
Can I change tenure in years?
Yes — switch the unit between months and years.