Loan EMI Calculator
Calculate Equated Monthly Installments for any loan. See EMI, total interest and payment breakdown.
How to Use the Loan EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan — personal, auto, education or business. Results appear instantly in your browser.
- Enter the loan principal — the total amount you plan to borrow (e.g. $500,000).
- Enter the annual interest rate — the yearly rate charged by your lender (e.g. 8.5%).
- Enter the loan tenure — the repayment period in years or months. Toggle between years and months using the buttons.
- Review results — see your monthly EMI, total interest and total payment. The breakdown bar visualises how much goes to principal vs. interest.
The EMI formula used is: EMI = P x r x (1+r)n / ((1+r)n - 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly installments.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay to a lender every month until the loan is fully repaid. Each EMI includes both principal repayment and interest charges.
How is EMI calculated?
EMI is calculated using the formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1). P is the loan principal, r is the monthly interest rate (annual rate / 12 / 100), and n is the total number of monthly installments.
Does a longer tenure reduce EMI?
Yes. A longer loan tenure reduces the monthly EMI because the principal is spread over more payments. However, you end up paying more total interest over the life of the loan.
Can I use this for a car loan?
Yes. This calculator works for any fixed-rate loan — personal loans, auto loans, education loans, home loans and more. Just enter the principal, rate and tenure for your specific loan.
What happens if the interest rate is 0%?
At 0% interest the EMI is simply the principal divided by the number of months. Some promotional loans and financing offers advertise 0% interest for a limited period.
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