Finance tool

EMI Calculator

Monthly loan EMI, total interest and full schedule.

Free Runs in your browser
–Monthly EMI
–Total interest
–Total payment

■ Principal   ■ Interest

Year-by-year schedule

About this tool

EMI Calculator shows the monthly instalment for a loan from the amount, interest rate and tenure. It also shows total interest and how each year’s payments split between principal and interest.

How to use EMI Calculator

  1. Enter the loan amount.
  2. Enter the yearly interest rate and the tenure.
  3. See the EMI, totals and the schedule.

Questions people ask

What formula does the EMI calculator use?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly rate and n is the number of months.

How can I lower my EMI?

A longer tenure lowers the EMI but increases total interest. A larger down payment lowers both.

Does it include processing fees?

No. Lenders charge fees and insurance separately. Ask your lender for the full cost.

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