Loan EMI Calculator
See your monthly EMI, total interest and payoff date. Test extra payments, check if the EMI fits your income, and view the full repayment schedule
- Formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months
- Early EMIs are mostly interest. Over time, more of each EMI goes to the principal
- Extra payment: the extra amount goes fully to principal every month, so the loan ends sooner and less interest builds up
- The check uses (this EMI + existing EMIs) ÷ monthly income. Under 30% is comfortable, 30 to 40% is manageable, 40 to 50% is tight and above 50% is risky
- These bands are a rule of thumb. Each lender has its own limits
- A shorter tenure means a higher EMI but much lower total interest
- Compare the total cost, not just the rate. Processing fee and insurance add to it
- Ask about prepayment or foreclosure charges before signing. Rules differ by loan type
- A better credit score usually helps you negotiate a lower rate
This is an estimate for planning, not financial advice. Real EMIs can differ with floating rates, rounding, fees, taxes and how your lender calculates interest.
All numbers are calculated in your browser. Nothing is saved or sent anywhere.
Loan Calculator FAQ
It calculates your payments, interest and an amortization schedule with detailed breakdowns, from the loan amount, interest rate and tenure.
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the tenure in months or years.
- View the EMI, total interest and repayment schedule.
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r is the monthly interest rate and n is the number of monthly payments.
It is a month-by-month table showing how much of each payment goes to interest and how much reduces the principal. Early payments are mostly interest.
Banks may add processing fees, insurance or use a slightly different interest method. Treat the result as an estimate and confirm with your lender.
