EMI Calculator
Enter your loan amount, annual interest rate and tenure to get your monthly payment (EMI), the total interest you’ll pay, and a year-by-year amortization schedule. Everything is calculated in your browser.
- Monthly EMI
- —
- Total interest
- —
- Total payment
- —
Where your money goes
- Principal—
- Interest—
Balance over time
| Year | Principal paid | Interest paid | Balance |
|---|
How it works
Your annual rate is converted to a monthly rater = rate ÷ 12 ÷ 100, and your tenure to a number of monthly payments n = years × 12. The EMI is then:
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
Each month, the interest portion is charged on the remaining balance and the rest reduces the principal. The table above sums those monthly payments into years so you can see how the balance falls over time.
Frequently asked questions
What is an EMI?
EMI stands for Equated Monthly Installment — the fixed amount you pay every month to repay a loan, covering both interest and principal.
Does the interest rate change the EMI a lot?
Yes. Because interest compounds monthly, even a 1% difference in annual rate can change the total interest paid over the life of the loan by a large amount. Try moving the rate slider by ±1% to see the effect.
Why might my actual EMI differ from this estimate?
Lenders may add processing fees, insurance, or round the EMI to the nearest unit. Some loans use a different day-count convention. This calculator uses the standard reducing-balance formula, which matches most fixed-rate loans.