Loan EMI Calculator
See your monthly EMI, total interest and payoff date. Test prepayments and step-up EMIs, compare tenures and rates, and save your plans
- Formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1). P is the loan amount, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months
- Early EMIs are mostly interest. Over time more of each EMI goes to the principal
- Extra, part payment and step-up go fully to principal, so the loan ends sooner and less interest builds up
- We use (EMI + existing EMIs) ÷ monthly income. Under 30% is comfortable, 30 to 40% manageable, 40 to 50% tight, above 50% risky
- The "you may qualify for" amount assumes a 40% limit. Each lender has its own rules
- A shorter tenure means a higher EMI but much lower total interest. Use the Compare tab
- Compare total cost, not just the rate. Processing fee and insurance add to it
- Ask about prepayment or foreclosure charges before signing
This is an estimate for planning, not financial advice. Real EMIs can differ with floating rates, rounding, fees, taxes and your lender's method. All numbers are calculated in your browser.
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.
