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Loan EMI Calculator
Calculate your monthly loan EMI instantly. Enter loan amount, interest rate, and tenure to see your monthly payment, total interest, and full repayment schedule. Free, no sign-up.
š” 12 months = 1 year | 360 months = 30 years
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Enter loan details on the left to see your EMI
How to Use the EMI Calculator
1
Enter loan details
Type your loan amount, annual interest rate (e.g., 8.5%), and loan tenure in months (e.g., 60 = 5 years).
2
See results instantly
Your monthly EMI, total interest payable, and total repayment amount appear automatically as you type.
3
View repayment schedule
Scroll down to see the full month-by-month breakdown of principal and interest paid over the loan term.
Loan EMI Calculator — FAQs
What is EMI?
EMI (Equated Monthly Installment) is a fixed monthly payment that covers both the principal and interest of your loan. You pay the same amount every month until the loan is fully repaid.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P = loan principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = number of months. This calculator does this calculation automatically.
How can I reduce my EMI?
You can reduce your EMI by: (1) choosing a longer loan tenure, (2) making a larger down payment, (3) negotiating a lower interest rate, or (4) making part-prepayments to reduce the outstanding principal.
What is a good interest rate for a personal loan?
Personal loan rates typically range from 8% to 24% annually depending on the lender and your credit score. Home loans are usually lower (6–12%). Always compare rates from multiple lenders before applying.