Calculate your monthly loan EMI, interest amount, and total repayment with our easy-to-use EMI Calculator. Works for home, car, personal, and other loans.
This EMI Calculator helps you estimate your monthly payments for any loan – home, car, personal, or education loan. Just enter the loan amount, interest rate, and tenure. The calculator shows your monthly EMI, total interest payable, and total payment. You also get a full amortization schedule.
EMI stands for Equated Monthly Installment. It’s the amount you pay every month to repay your loan. Your EMI includes both principal and interest. The EMI amount remains fixed if your loan has a fixed interest rate.
EMI is calculated using this formula:
Where:
P = Loan Amount, R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100), N = Number of monthly installments.
Yes, if the loan is at a fixed interest rate. For floating rate loans, EMI may change if the interest rate changes.
Yes. This calculator works for home loans, car loans, personal loans, and other fixed installment loans.
It shows a month-by-month breakdown of how much of your EMI goes toward interest and how much toward principal repayment.
Yes, most loans allow prepayment. It reduces your outstanding principal and total interest outgo. Check with your lender for any prepayment charges.