Loan & EMI Calculator

Calculate monthly EMI, total payment, and total interest for any loan. View a full amortization schedule broken down month by month.

Loan Details
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Yrs
Mo
Monthly EMI
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Total Payment
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Total Interest
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Principal vs Interest
 Principal  Interest
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Amortization Schedule
# EMI Principal Interest Balance

Enter loan details and click Calculate

About Loan & EMI Calculator

Calculate monthly EMI, total payment, and total interest for any loan instantly using our free EMI calculator. View a full month-by-month amortization schedule showing exactly how each payment is split between principal and interest.

What is an EMI?

An EMI (Equated Monthly Installment) is a fixed payment made to a lender each month to repay a loan over a set period. It consists of a principal portion (reducing the loan balance) and an interest portion (the cost of borrowing).

Features

  • Calculate monthly EMI from principal, rate, and term
  • Choose loan term in months or years
  • Support for multiple currencies including USD, EUR, GBP, and INR
  • Visual principal vs interest breakdown chart
  • Full amortization schedule with monthly breakdown
  • Instant recalculation as you adjust inputs
  • No software installation required

EMI Formula

EMI is calculated using the standard formula: EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the total number of monthly payments.

Common Use Cases

  • Compare monthly payments across different loan amounts
  • Understand the total interest cost of a loan
  • Plan home loan, car loan, or personal loan repayments
  • See how a shorter term reduces total interest paid
  • Create a repayment schedule for budgeting purposes

Why Use This EMI Calculator?

Understand the full cost of any loan and plan repayments with confidence using a clear month-by-month breakdown.

Frequently Asked Questions

EMI is calculated using the standard formula: EMI = P x r x (1 + r)^n divided by ((1 + r)^n - 1). P is the principal amount, r is the monthly interest rate (annual rate divided by 1200), and n is the total number of monthly installments.

An amortization schedule is a table showing each monthly payment in detail. For every month it shows the payment number, the amount going toward interest, the amount reducing the principal balance, and the remaining loan balance after that payment.

A longer repayment term lowers the monthly EMI but increases the total interest paid over the life of the loan. A shorter term raises the monthly EMI but reduces the overall interest cost significantly.

Yes. The calculator works for any fixed-rate loan type. You only need the principal amount, the annual interest rate, and the repayment term in months or years.

The calculator supports USD, EUR, GBP, INR, JPY, KRW, and TRY. Select your preferred currency from the dropdown and all displayed amounts will use the correct symbol.