EMI Calculator
Calculate your monthly EMI for home loan, car loan, or personal loan. View detailed amortization schedule with principal and interest breakup.
About EMI Calculator
EMI — Equated Monthly Installment — is the fixed amount you pay each month toward a loan. Calculating it precisely matters because small differences in interest rate or tenure compound dramatically over the loan's lifetime. This EMI calculator takes the loan amount, annual interest rate, and tenure, and instantly shows you the monthly payment, total interest paid over the life of the loan, and a full amortization schedule.
The amortization breakdown is particularly useful — it shows exactly how each EMI is split between principal and interest, and how that split shifts over time as the principal balance decreases. Useful for evaluating home loans, car loans, and personal loans before signing, comparing offers from different banks, and understanding the true cost of borrowing over five, ten, or twenty years.
How to Use
Enter the loan amount (principal).
Enter the annual interest rate.
Enter the loan tenure in years or months.
Click 'Calculate' to see your monthly EMI, total interest, and amortization schedule.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your loan. It includes both principal repayment and interest. The EMI stays the same throughout the loan tenure.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate, and n is the number of months.
Does this work for all types of loans?
Yes! This calculator works for home loans, car loans, personal loans, education loans, and any other loan with a fixed interest rate and equal monthly payments.
What is an amortization schedule?
An amortization schedule shows the month-by-month breakdown of each EMI into principal and interest components, along with the remaining balance after each payment.
EMI Calculator: Calculate Loan EMI for Home, Car & Personal Loans
Planning a home, car, or personal loan? Learn exactly how EMI is calculated, what affects your monthly payment, and use our free EMI calculator to plan ahead.
Read the full guide