Loan EMI Calculator
Estimate your monthly loan installment, total interest and total repayment using the loan amount, annual interest rate and repayment tenure.
Calculate Your Loan EMI
Enter your loan details below. The interest rate should be the annual rate in percent.
Your Estimated Repayment
This calculator provides an estimate. Actual EMI may vary due to lender fees, rate changes, payment timing or lender-specific rounding.
How to Use the EMI Calculator
- Enter the amount you plan to borrow.
- Enter the annual interest rate offered by your lender.
- Enter the loan tenure in years.
- Select “Calculate EMI” to view the monthly installment and total repayment estimate.
How Is EMI Calculated?
For a positive monthly interest rate, the standard reducing-balance formula is:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- P is the loan principal.
- r is the monthly interest rate (annual rate divided by 12).
- n is the total number of monthly installments.
If the interest rate is 0%, the EMI is principal divided by the number of monthly installments.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It is the regular monthly payment made toward repaying a loan, including principal and interest.
Does the calculator support a 0% interest rate?
Yes. At 0% annual interest, the estimated monthly payment is the loan amount divided by the number of monthly installments.
Is the result the exact amount my bank will charge?
No. This is an estimate based on the details entered and a standard monthly reducing-balance calculation. Lender fees, insurance, rate changes and rounding can affect actual payments.
Is this calculator free and mobile-friendly?
Yes. It runs in your browser, requires no registration and adapts to phones, tablets and desktop screens.
Financial information: This tool is for educational estimation only and is not financial advice or a loan offer. Confirm rates, fees and repayment terms with your lender before making a financial decision.
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