EMI stands for Equated Monthly Installment. It’s the fixed amount you pay every month to repay your loan over a set period.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1], where P = principal, R = monthly interest rate, N = number of months.

Can I calculate EMI for different loan types?

Yes. This EMI Calculator supports home loans, car loans, personal loans, and education loans.

Does the EMI amount remain fixed?

For fixed interest rate loans, the EMI remains the same throughout the tenure. For floating rates, EMI may vary.

EMI Calculator

Q: What is an amortization schedule?

An amortization schedule shows the breakup of each EMI into principal and interest, along with the outstanding loan balance.

Calculate your monthly loan EMI, interest amount, and total repayment with our easy-to-use EMI Calculator. Works for home, car, personal, and other loans.

Loan Amount

Annual Interest Rate (%)

Loan Tenure (months)

EMI Details

Monthly EMI —

Total Payment —

Total Interest —

Amortization Schedule

Month	EMI	Principal	Interest	Balance

About This EMI Calculator

This EMI Calculator helps you estimate your monthly payments for any loan – home, car, personal, or education loan. Just enter the loan amount, interest rate, and tenure. The calculator instantly shows your monthly EMI, total interest payable, and total payment. You also get a full amortization schedule.

What is EMI?

EMI stands for Equated Monthly Installment. It’s the amount you pay every month to repay your loan. Your EMI includes both principal and interest. The EMI amount remains fixed if your loan has a fixed interest rate.

How to Use This EMI Calculator?

Enter your total loan amount (principal).
Choose your annual interest rate.
Select the loan tenure in months or years.
Click "Calculate EMI" to see results instantly.

EMI Formula

EMI is calculated using this formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Where:
P = Loan Amount, R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100), N = Number of monthly installments.

Why Use an EMI Calculator?

Plan your monthly budget better.
Compare different loan offers easily.
Understand how much interest you’ll pay over time.
View amortization schedule to track repayment progress.

Frequently Asked Questions

Is EMI the same every month?

Yes, if the loan is at a fixed interest rate. For floating rate loans, EMI may change if the interest rate changes.

Can I use this calculator for any type of loan?

Yes. This calculator works for home loans, car loans, personal loans, and other fixed installment loans.

What is an amortization schedule?

It shows a month-by-month breakdown of how much of your EMI goes toward interest and how much toward principal repayment.

Can I prepay my loan?

Yes, most loans allow prepayment. It reduces your outstanding principal and total interest outgo. Check with your lender for any prepayment charges.