EMI Loan Calculator Online
Calculate your monthly instalment, total interest and total repayment on any loan.
How to use this tool
- 1Enter the loan amount you are borrowing.
- 2Enter the annual interest rate offered.
- 3Set the loan tenure in months or years.
- 4Read the monthly EMI, total interest and total amount payable.
About this tool
An equated monthly instalment is a fixed payment that covers both interest and principal, calculated so the loan clears exactly at the end of the term. Early payments are mostly interest and later ones mostly principal, which is why paying a loan off early saves less than people expect near the end and far more at the beginning. The figure that deserves attention is not the EMI itself but the total interest, because a longer tenure lowers the monthly payment while quietly increasing what the loan costs overall. Stretching a home loan from fifteen years to twenty can add a very large sum in interest for a modest monthly saving. Use this calculator to compare offers on total cost, not just affordability of the instalment.
Frequently Asked Questions
How is EMI calculated?
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Using the standard formula P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n the number of months.
Does a longer tenure save money?
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It lowers the monthly payment but increases total interest, often substantially. Compare the total payable, not just the EMI.
Does this include processing fees or insurance?
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No. It calculates principal and interest only. Lenders may add fees, so ask for the total cost of credit.