Want to find out how much your monthly loan payment (EMI) will be? Our Loan EMI Calculator helps you quickly calculate your monthly installment, total interest payable, and total repayment amount—based on your loan amount, interest rate, and tenure.
💰 Loan EMI Calculator
Calculate your monthly payments instantly
📊 Breakdown
💡 What Is an EMI?
EMI stands for Equated Monthly Installment, which is the fixed payment you make every month to repay a loan. It includes both the principal and interest amounts.
🔢 How This EMI Calculator Helps You
- ✅ Accurate Calculations
Get precise EMI based on the standard amortization formula used by banks and financial institutions. - ✅ Instant Results
Just enter your loan amount, annual interest rate, and loan term—see the results instantly without reloading the page. - ✅ Detailed Breakdown
See total interest paid, total repayable amount, and monthly EMI—all in one place. - ✅ Mobile-Friendly & Free
Works great on any device—no downloads, no sign-up, and absolutely free to use.
📈 EMI Formula Used
We use the standard EMI calculation formula:
iniCopyEditEMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
Where:
- P = Loan Amount (Principal)
- R = Monthly Interest Rate (Annual Rate / 12 / 100)
- N = Loan Term in Months
🧠 Why Use an EMI Calculator?
- 🏦 Plan your loan better: Know exactly what you’ll pay monthly.
- 💰 Compare lenders: Try different interest rates and terms.
- 📊 Understand repayment: Visualize your total repayment and interest burden.
- 📆 Make informed decisions: Avoid surprises by knowing your financial commitments upfront.
✅ Use Cases
- Home Loan EMI Calculation
- Car Loan / Auto Loan EMI Planning
- Personal Loan Repayment Estimation
- Business or Education Loan EMI Schedule
🔍 Example Calculation
Loan Amount: $100,000
Interest Rate: 7.5% annually
Loan Term: 20 years
You’ll see:
- Monthly EMI: ~$805
- Total Interest: ~$93,000
- Total Amount Payable: ~$193,000
(Exact values depend on compounding and rounding.)
🏁 Get Started
Try the calculator above by entering your own values and click “Calculate EMI” to get your result. It’s fast, easy, and helps you make smarter financial decisions.
