EMI / Loan Calculator

Plan any loan — home, car, personal. See your monthly EMI, total interest and total cost before you sign.

Quick answer: Free EMI calculator: compute monthly loan payments, total interest and total repayment for home, car or personal loans. Instant and private.

Loan amount

1K500K1M

Interest rate (% per year)

0%10%20%

Tenure (years)

0.51530

–Monthly payment

–Total interest

–Total repayment

How to use

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Fill in the fields above.
Get your result instantly — nothing is uploaded.

General information only — not medical, financial or legal advice. Figures cross-checked against public official sources (IRS / HMRC / NHS / WHO guidance); content last reviewed September 2026. For decisions that matter, confirm with a licensed professional in your country.

About this tool

An EMI (Equated Monthly Instalment) calculator shows the fixed monthly payment for a loan based on principal, annual interest rate and tenure. The formula is P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is the monthly rate. Comparing EMIs before borrowing helps you budget and negotiate better terms.

FAQ

What formula does an EMI calculator use?

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is monthly interest rate and n is number of months.

Does a longer tenure reduce my cost?

It reduces the monthly EMI but increases total interest paid. Try different tenures above to compare.

Is this the same as my bank's number?

It is the standard reducing-balance EMI formula used by banks. Small differences can come from processing fees or insurance add-ons.

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The complete emi calculator guide

Prefer the long version — a worked example, the mistakes people actually make, and answers to real questions? The blog guide Emi Calculator — Complete Guide, Mistakes & FAQ covers all of it step by step.

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EMI / Loan Calculator

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About this tool

FAQ

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