Loan EMI Calculator
Find out exactly what your monthly loan payment will be. Enter the loan amount, the annual interest rate and the tenure, and see your EMI, the total interest you will pay, and the total amount repaid.
Enter years, months, or both — for example 1 year, or 0 years and 18 months.
Your result will appear here
Your loan breakdown
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r is the monthly rate and n is the number of months. Figures are indicative — your lender's actual schedule may differ slightly.
How to use
- Enter the loan amount and the annual interest rate your lender quoted.
- Enter the tenure in years and/or months, then click Calculate EMI.
- Compare the monthly EMI and total interest for different tenures to find a payment you can afford.
Frequently asked questions
What is an EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay your lender every month until the loan is fully repaid. Each payment covers part of the interest and part of the principal.
Does a longer tenure mean a lower EMI?
Yes, spreading the loan over more months lowers the monthly payment — but you pay more total interest, because interest accrues for longer. A shorter tenure costs more per month and less overall.
What does the interest rate do to my EMI?
A higher annual rate raises both the EMI and the total interest. Even a 1% difference on a large loan can change the total repayment by a noticeable amount, so it pays to compare rates before borrowing.
Is this calculation exact?
It uses the standard reducing-balance EMI formula that most banks use. Your lender may round differently or add fees, so treat the result as a close estimate and confirm the final schedule with them. Use it as a loan emi calculator free — no signup, nothing to install.
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