EMI Calculator for Home Loan, Car Loan & Personal Loan

Select your preferred currency
Please enter a valid loan amount
Total amount you wish to borrow
Please enter a valid interest rate
Annual interest rate offered by your lender
Please enter a valid tenure
Total time period to repay the loan

Results

Loan Breakdown

Amortization Schedule

What is EMI?

Equated Monthly Installment (EMI) is the amount payable every month to the bank or financial institution until the loan is fully repaid. It consists of both interest and principal components. The interest portion is initially higher and reduces gradually over time.

EMI Calculation Formula

EMI = [P × r × (1 + r)n] / [(1 + r)n - 1]

Where:
P = Principal Loan Amount
r = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n = Loan Tenure in Months

Example Calculation

For ₹10,00,000 loan at 10.5% annual interest over 10 years:

  • EMI: ₹13,493/month
  • Total Payable: ₹16,19,220
  • Total Interest: ₹6,19,220

How to Use EMI Calculator

  1. Enter principal loan amount
  2. Select loan tenure (months/years)
  3. Input interest rate percentage
  4. Choose payment type (arrears/advance for car loans)

Key Features:

  • Instant results with visual charts
  • Payment schedule breakdown
  • Principal vs interest allocation
  • Mobile-friendly interface

Pro Tip: Use prepayments to reduce loan tenure and total interest. Check our Home Loan EMI Calculator with Prepayments for advanced calculations.