EMI / loan calculator
Calculate monthly loan instalments, total interest and total payment for any loan. Free, private, no sign-up.
About the EMI calculator
Taking a loan is a big financial decision, and knowing your monthly instalment in advance helps you plan your budget. An EMI, or equated monthly instalment, is the fixed amount you pay every month until a loan is fully repaid. It includes both part of the original amount and the interest charged by the lender. This free EMI calculator shows these numbers in seconds.
Enter the loan amount, the yearly interest rate and the loan period in years. The calculator then displays your monthly EMI, the total interest you will pay and the total amount repaid over the full term. It uses the standard reducing-balance formula that most banks use for home, car and personal loans. Try different amounts, rates and durations to see how they change your payment before you apply. Remember that processing fees and insurance are not included, so ask your bank for the full cost. The tool works with any currency and runs in your browser, so your figures remain private.
How to use
Enter the loan amount, the yearly interest rate and the loan period in years. The calculator shows your monthly EMI, total interest and total payment using the standard reducing-balance formula.
Frequently asked questions
- What is EMI?
- EMI stands for equated monthly instalment, the fixed amount you pay each month to repay a loan with interest.
- Does it include processing fees?
- No. It covers only the principal and interest, so add any bank fees separately.
- Which currency can I use?
- Any. Enter the amount in your own currency and the results use the same currency.
Read the guide
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