EMI Calculator

About this calculator

Before taking out a home, car or personal loan, knowing the exact monthly payment matters far more than the headline interest rate alone, since the same rate can produce very different EMIs depending on the tenure, and the compounding math behind reducing-balance interest isn't something most people can do reliably in their head. This calculator uses the standard monthly reducing-balance formula, EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1], to compute your Equated Monthly Installment from the loan principal, annual interest rate and tenure in months, then breaks down the principal-versus-interest split and total interest paid over the life of the loan. It's built for anyone comparing loan offers, checking whether a monthly payment fits their budget before applying, or trying to understand how much of an early payment actually goes toward interest versus principal. Because interest is charged only on the outstanding balance each month under this method, the ratio of interest to principal shifts over time, which is exactly what the amortization schedule makes visible instead of leaving you to estimate it.

How to use this

1. 1Enter the loan amount you want to borrow.
2. 2Set the annual interest rate offered by your lender.
3. 3Set the loan tenure in months, then read your monthly EMI, total interest and total payment instantly.

Troubleshooting

• The EMI shown seems too high or too low.

  Double check the interest rate is the annual rate, not monthly, this is the most common input mistake.

• I want to see a month-by-month breakdown.

  Use "Show amortization schedule" below the result to see the principal/interest split for every month.

Frequently asked questions