Compare the total cost
A longer tenure lowers the EMI but usually increases the total interest a lot. Compare both before choosing.
Loan EMI Calculator with Repayment Schedule
See what a loan really costs before you sign. Enter the amount, interest rate and tenure to get your monthly instalment, total interest and a full repayment schedule.
- 100% free
- No sign-up
- Runs in your browser
Monthly instalment (EMI)0
Total interest0
Total payment0
Interest share0
How to use
How to use the Loan EMI Calculator
- Enter the loan amount you plan to borrow.
- Enter the yearly interest rate quoted by the lender.
- Enter the tenure in years or months.
- Review the EMI, total interest and schedule, and download it as CSV if you like.
Private by design. Everything happens in your browser. Nothing you type or upload is sent to our servers, stored or shared.
About this tool
How is EMI calculated?
EMI stands for equated monthly instalment: a fixed amount you pay every month until the loan is cleared. It is calculated as P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of months.
In the early months most of your instalment goes towards interest, and only a small part reduces the loan. As the balance falls, the interest portion shrinks and more of each payment goes to the principal. The schedule below the result shows exactly how that shifts over time.
Good to know
Borrowing tips
Ask about fees
Processing fees and insurance add to the real cost. Ask lenders for the full annual percentage rate.
Check prepayment terms
Paying extra early on saves the most interest. Check whether the lender charges for prepayment.
Keep EMIs affordable
Many advisers suggest keeping total loan repayments well below half of your monthly income.
FAQ
Loan EMI Calculator FAQs
What does EMI stand for?
Equated monthly instalment, the fixed monthly payment that repays a loan with interest over its term.
Does this work for car loans, home loans and personal loans?
Yes. Any loan with a fixed interest rate and equal monthly payments can be calculated here.
Is the result exact?
It uses the standard reducing-balance formula. Your lender's figure may differ slightly due to rounding, fees or how the first month is counted.
Can I calculate a loan with 0% interest?
Yes. Enter 0 as the rate and the EMI is simply the loan amount divided by the number of months.
Does it work for Islamic financing?
Islamic financing uses different structures, such as profit rates or rental models. You can use the profit rate to estimate payments, but confirm the actual schedule with your bank.
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