EMI Calculator
Calculate your monthly loan EMI and total interest payable in seconds. View a full amortization schedule for any loan in your chosen currency.
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How to Use
- 1
Enter the loan amount
Type your loan principal and select the currency.
- 2
Set the interest rate
Enter the annual interest rate as a percentage. Use 0 for interest-free loans.
- 3
Set the tenure
Enter the loan duration in years or months using the toggle.
- 4
See your results
Monthly EMI, total interest and total payment are calculated instantly.
- 5
View the amortization schedule
Click "Amortization Schedule" to see the breakdown for every single month.
Frequently Asked Questions
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay to a lender every month until the loan is fully repaid.
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
At 0% interest, the EMI is simply the principal divided by the number of months (P ÷ n).
An amortization schedule is a table showing how each monthly payment is split between repaying the principal and paying interest, along with the remaining loan balance.
No. All calculations run locally in your browser. Nothing is stored or transmitted.