Work out your monthly loan installment, total interest and total payment for any loan, instantly and privately in your browser.
An EMI (Equated Monthly Installment) is the fixed amount you repay every month on a loan until it is fully paid off. This calculator works out your EMI from three inputs, the loan amount, the annual interest rate and the tenure, and then shows how much of your repayment is principal versus interest. Everything is calculated instantly in your browser, so none of your figures are sent anywhere. It is handy for home loans, car loans, personal loans and any other reducing-balance loan.
The formula used is the standard reducing-balance EMI: EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12) and n is the number of monthly installments. Amounts are shown in whatever currency you are working in.
Reviewed by the ToolBrainy Team · Calculations run entirely in your browser · Last updated July 2026
Type the total principal you want to borrow: the full purchase price of a home or car, or the amount requested on a personal loan. The calculator is currency-agnostic, so just enter the number and treat the result in the same currency.
Use the annual interest rate your lender quotes, which is usually shown as a percentage per year in any loan offer or product sheet. The tenure is the loan term in years. Try different combinations: halving the tenure roughly doubles the EMI but cuts total interest significantly.
The headline shows your fixed monthly EMI. Below it, the three summary figures break down how much of your total repayment is the original loan (principal) and how much is interest. The bar chart makes this split visual. On long-term loans you will often see interest exceed the principal, which is normal for reducing-balance loans.
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Before applying, check what a loan of ₹50 lakh at 8.5% over 20 years costs per month (roughly ₹43,391) and whether that fits your take-home pay. Try tweaking the tenure to 15 years to see how the EMI rises but total interest drops by lakhs.
A ₹10 lakh car loan at 9% over 7 years gives a lower EMI than over 5 years, but the 7-year option costs roughly ₹1.4 lakh more in interest. Running both scenarios takes seconds and makes the trade-off clear before you walk into a dealership.
If your monthly take-home is ₹60,000 and financial planners suggest keeping EMIs below 40% of income, you can check which loan size keeps you inside that ₹24,000 ceiling before you apply, avoiding a rejection on your credit record.
Two banks quote 9% and 10.5% on the same loan. Enter both rates and see the monthly difference. Even a few hundred rupees per month adds up to a substantial sum in total interest paid over a 20-year term.
Run the calculator with the original tenure, then reduce it by 3 to 5 years to approximate the effect of making lump-sum prepayments. The interest saving is usually dramatic and helps motivate borrowers who have surplus funds to pay down debt first.
A small business considering a ₹20 lakh equipment loan can check whether the EMI is covered by the expected additional monthly revenue the equipment generates, a quick sanity check before committing to debt.
EMI stands for Equated Monthly Installment, which is the fixed amount you pay your lender each month until the loan is fully repaid. Each payment is split between reducing the principal balance and covering the interest accrued that month. In early months the interest share is larger; as the balance shrinks, more of each payment goes toward principal.
The reducing-balance formula is: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments. For example, a ₹5 lakh loan at 10% for 5 years gives r = 10/12/100 = 0.00833 and n = 60, resulting in an EMI of approximately ₹10,624.
Yes, but at a cost. Stretching a ₹10 lakh loan from 5 years to 10 years roughly halves the monthly EMI but nearly doubles the total interest paid over the loan's life. Use the calculator to compare both options before deciding. The right choice depends on how much monthly cash flow matters versus the overall interest burden.
Prepaying reduces the outstanding principal, which directly cuts the interest charged on future installments. Lenders typically offer two options: keep the EMI the same and shorten the tenure, or reduce the EMI and keep the original tenure. Shortening the tenure usually saves more interest. This calculator can approximate the effect by rerunning with the remaining balance and a shorter tenure.
On long tenures (20 to 30 years for home loans), the cumulative interest can exceed the principal. This is because you are paying interest on a large balance every month for many years. It is not a sign of an error; it is how reducing-balance loans work. Comparing the principal-vs-interest bar on different tenures is a useful way to see the true cost of borrowing longer.
Yes, completely free, no signup needed, and no financial data leaves your browser. Run as many scenarios as you like.
No. The EMI Calculator runs entirely in your web browser, so there is nothing to download or install — just open the page and enter your loan details.
Yes. The tool works in any modern mobile browser, so you can compare loan EMIs on your phone or tablet the same way you would on a desktop.