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 amortization schedule free. Supports home, car, and personal loans. Instant results.

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.

💱 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

₹12398.57

per month for 120 months

Principal₹1.00M

Interest₹487,828

Total Payable

₹1.49M

₹1.00M

Principal

₹487,828

Total Interest

32.8%

Interest %

₹1.49M

Total Cost

Year-wise Breakdown

Year	Principal Paid	Interest Paid	Total Paid	Balance
1	₹66,327	₹82,456	₹148,783	₹933,673
2	₹72,190	₹76,593	₹148,783	₹861,483
3	₹78,571	₹70,212	₹148,783	₹782,912
4	₹85,516	₹63,267	₹148,783	₹697,396
5	₹93,075	₹55,708	₹148,783	₹604,321
6	₹101,302	₹47,481	₹148,783	₹503,019
7	₹110,256	₹38,527	₹148,783	₹392,763
8	₹120,002	₹28,781	₹148,783	₹272,762
9	₹130,609	₹18,174	₹148,783	₹142,153
10	₹142,153	₹6,630	₹148,783	₹0

How we calculate this

All calculations run entirely in your browser — no data is sent to any server. Here is exactly how this tool works:

Enter the loan amount (or use the slider)
Set the annual interest rate percentage
Choose the loan tenure in years
Your monthly EMI, total interest, and total payable amount are calculated instantly
View the year-wise breakdown or the full monthly amortization schedule

Frequently Asked Questions

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