Loan EMI Calculator
Calculate your monthly EMI, total interest, and total payment for any loan instantly.
Calculate EMI
Enter loan details to calculate your EMI.
EMI Formula
P = Principal • r = Monthly rate • n = Total months
P = Principal (Loan Amount)
r = Monthly interest rate (Annual % ÷ 12 ÷ 100)
n = Total number of months (Years × 12)
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It includes both principal and interest.
How to Use This Calculator
Enter the loan amount, annual interest rate, and loan tenure in years. The calculator instantly shows your monthly EMI, total interest payable, and total amount you will pay over the loan period.
Frequently Asked Questions
What does EMI include?
EMI includes both the principal repayment and the interest charged by the lender.
Can I change the loan term to see different EMIs?
Yes. A longer term lowers your monthly EMI but increases the total interest paid over time.
Does this calculator include taxes or processing fees?
No. This calculator only shows principal + interest. Always check with your lender for additional charges.
How accurate is this EMI calculator?
It uses the standard reducing balance method and is very accurate for planning. Actual EMI may vary slightly depending on your bank’s rounding rules.
What if I make extra payments?
Extra payments will reduce your loan tenure or total interest. This calculator assumes fixed monthly payments with no prepayments.
Is this calculator suitable for home loans, car loans, and personal loans?
Yes. The EMI formula works the same for most reducing-balance loans.