EMI / LOAN CALCULATOR
EMI Loan Calculator
Find your monthly EMI, total interest and repayment schedule.
| Year | Principal paid | Interest paid | Balance |
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Calculate Your Loan EMI Online
This EMI calculator works out the equated monthly instalment for a home loan, car loan, personal loan or education loan. Enter the amount you want to borrow, the yearly interest rate and the tenure, and you get your monthly EMI, the total interest you will pay and the full cost of the loan. All calculations run in your browser and nothing is stored or sent anywhere.
How the EMI formula works
EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate divided by 12 and by 100) and n is the number of monthly instalments. Early instalments are mostly interest, and the principal share grows over time. The repayment table above shows exactly how this plays out each year.
Tips to reduce your loan cost
A shorter tenure raises your EMI but cuts the total interest sharply. A larger down payment lowers the principal. Even a small drop in the interest rate can save a large amount over a long home loan, so compare offers from several banks before you decide.
Frequently asked questions
Does this include processing fees or insurance? No. The result covers principal and interest only. Add bank fees separately when comparing loans.
Is the interest fixed or floating? The calculator assumes one rate for the whole tenure. If your rate changes, run the calculation again with the new rate and remaining balance.
Is it free? Yes. This loan calculator is free with no sign-up.
Written by Suraj Bhandari
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