EMI (Equated Monthly Installment) is a fixed payment made by a borrower to a lender on a specific date each month. It includes both the principal repayment and the interest component.

How is EMI calculated?

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.

What is an amortization schedule?

An amortization schedule is a complete table of loan payments showing the principal and interest portion of each EMI, along with the remaining loan balance after each payment.

How do I reduce my total interest paid?

You can reduce total interest by: (1) choosing a shorter tenure, (2) making prepayments when possible, (3) negotiating a lower interest rate, or (4) making a larger down payment to reduce the principal.

Can I calculate home loan EMI?

Yes. Select the "Home Loan" preset or enter your loan amount (e.g., ₹50,00,000), set the interest rate (typically 8–9% for home loans), and choose your tenure (15–30 years).

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Loan EMI Calculator

Calculate loan EMI, total interest, and monthly amortization schedule online free. Supports home loans, car loans, personal loans. Multi-currency.

Loan Details

Loan Amount

₹

₹10K₹5Cr

Annual Interest Rate: 8.5%

1%36%

Loan Tenure: 10 yr (120 mo)

1 yr30 yr

Monthly EMI

₹12,398.57

per month for 120 months

Principal₹10,00,000

Interest₹4,87,828

Total Payable

₹14,87,828

₹10,00,000

Principal

₹4,87,828

Total Interest

32.8%

Interest %

₹14,87,828

Total Cost

Year-wise Breakdown

Year	Principal Paid	Interest Paid	Total Paid	Balance
1	₹66,327	₹82,456	₹1,48,783	₹9,33,673
2	₹72,190	₹76,593	₹1,48,783	₹8,61,483
3	₹78,571	₹70,212	₹1,48,783	₹7,82,912
4	₹85,516	₹63,267	₹1,48,783	₹6,97,396
5	₹93,075	₹55,708	₹1,48,783	₹6,04,321
6	₹1,01,302	₹47,481	₹1,48,783	₹5,03,019
7	₹1,10,256	₹38,527	₹1,48,783	₹3,92,763
8	₹1,20,002	₹28,781	₹1,48,783	₹2,72,762
9	₹1,30,609	₹18,174	₹1,48,783	₹1,42,153
10	₹1,42,153	₹6,630	₹1,48,783	₹0

About This Tool

Calculate your monthly EMI (Equated Monthly Installment) for any loan instantly. Enter the loan amount, interest rate, and tenure to get your EMI, total interest payable, and a complete month-by-month amortization schedule. Supports INR, USD, EUR, GBP, and more.