EMI Calculator
Calculate monthly EMI for home, car, personal, and education loans with a full amortization schedule.
How to use
Enter your values and pick a mode if the tool offers one.
Click calculate — results appear instantly, computed in your browser.
Copy the result or save the tool to your favorites.
Frequently asked questions
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P is principal, R is the monthly interest rate, and N is the number of months.
The base calculation assumes no prepayments. For a prepayment scenario, recalculate using the reduced principal after each prepayment.
Enter the annual rate. The tool converts it to a monthly rate internally by dividing by 12 and by 100.
Enter the tenure in months. For a 20-year home loan, that is 240 months.
No. The EMI math runs entirely in your browser, so your loan figures never leave your device.
About the EMI Calculator
An EMI, or Equated Monthly Installment, is the fixed amount you pay every month to repay a loan over a chosen period. This calculator works out that figure instantly for home loans, car loans, personal loans, and education loans, and also shows the total interest you will pay and a full month-by-month repayment schedule.
The three modes
- EMI: enter the loan amount, annual interest rate, and tenure in months to get your monthly installment, total interest, and total payment.
- Amortization: see a complete breakdown of every month, showing how much of each payment goes toward principal versus interest, and the falling outstanding balance.
- Affordability: work backwards from a monthly budget to see roughly how large a loan you can take at a given rate.
How EMI is calculated
The formula is EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P is the principal, R is the monthly interest rate (the annual rate divided by twelve and by one hundred), and N is the number of monthly installments. Early in the loan, most of each EMI goes toward interest; as the balance falls, a larger share goes toward principal. The amortization mode makes this shift visible.
Why it matters
Knowing your EMI before you borrow helps you choose a tenure and loan amount that fit your monthly budget without strain. A longer tenure lowers the EMI but increases total interest; a shorter tenure does the opposite. Comparing scenarios here lets you find the balance that works for you.
Tips
Enter the tenure in months, not years, so a twenty-year home loan is 240. The calculation assumes a fixed interest rate and no prepayments; if you make a lump-sum prepayment, your outstanding principal drops and you can recalculate for the new balance. For investment planning alongside your loan, try the SIP Calculator, and for tax planning the Income Tax Calculator. All calculations run privately in your browser.