EMI stands for Equated Monthly Installment, the fixed amount you pay every month until a loan is fully repaid. Each EMI covers part of the principal and part of the interest.

How is EMI calculated?

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI, but you pay more total interest. Try different tenures to compare the trade-off.

Which currency does it use?

Any. The calculator works with plain numbers, so it applies to any currency.

EMI Calculator

Work out your monthly loan installment and see exactly how much interest you will pay over the life of the loan, with a yearly repayment breakdown.

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Loan amount

Annual interest rate (%)

Loan tenure

Tenure in

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Overview

Work out your monthly loan installment and see exactly how much interest you will pay over the life of the loan, with a yearly repayment breakdown.

Benefits

Monthly EMI, total interest, and total payment
Year-by-year principal, interest, and balance
Works with any currency
Private — nothing leaves your browser

Use Cases

Comparing home loan offers from different banks
Deciding how long a car loan tenure should be
Budgeting a personal loan
Seeing the interest cost of a longer repayment period

Users Also Use

How to Use

Enter the loan amount and the annual interest rate.
Enter the tenure and choose years or months.
Click Calculate EMI to see the monthly installment, total interest, and a yearly repayment table.

FAQ

What is EMI?: EMI stands for Equated Monthly Installment, the fixed amount you pay every month until a loan is fully repaid. Each EMI covers part of the principal and part of the interest.
How is EMI calculated?: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments.
Does a longer tenure reduce my EMI?: Yes, a longer tenure lowers the monthly EMI, but you pay more total interest. Try different tenures to compare the trade-off.
Which currency does it use?: Any. The calculator works with plain numbers, so it applies to any currency.

About EMI Calculator

Plan a home loan, car loan, or personal loan with our EMI Calculator. Besides the monthly installment, it shows the total interest you will pay and a year-by-year breakdown of principal paid, interest paid, and remaining balance so you can see how the loan shrinks over time.