EMI Calculator - Calculate Your Monthly Loan Repayments Instantly

Calculate your Equated Monthly Installment (EMI), interest payable, and get a detailed amortization schedule

Loan Details

₹
₹10K₹1 Cr
%
5%20%
1 Year30 Years
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0

Payment Schedule

Yearly Payment Breakdown

Payment Breakdown

Amortization Schedule (First 12 Months)

MonthPrincipalInterestBalance

An EMI Calculator is simple, yet a very effective online utility that can help you calculate Equated Monthly Installment for any type of loan like a home loan, personal loan, car loan or education loan. So whether you are buying a house, opening a company to develop your ingenious invention, or even buying a car, an EMI Calculator can show you what you are likely to pay and get a sense of how long you will need to pay.

Essentially, an EMI Calculator will be able to give you a quick indication of your per monthly EMI, total interest payable and total amount to pay to the lender over the duration of your loan. The calculator also provides a complete breakdown of the terms including the amortization schedule to assist you to put together effective financial plans.

EMI Calculator

What is an EMI?

EMI stands for Equated Monthly Installment. Every month, your lender will charge you a fixed amount to pay back your loan until it is satisfied. Each EMI consists of 2 components:

Principal Amount - The portion that reduces your outstanding loan balance.
Interest Amount - The cost of borrowing money from the lender.

How to Use Our EMI Calculator

Using the EMI Calculator is easy and requires just three inputs:

1.
Loan Amount:The total sum of money you wish to borrow.
2.
Interest Rate:This is the annual interest that the lender charges you.
3.
Loan Tenure:The period of repayment (in months or years).

Once you have input these details into our EMI Calculator, it will instantly provide you with the following:

Monthly EMI amount
Total interest payable
Total payment (Principal + Interest)
Payment breakdown in charts
Yearly payment schedule
Amortization table for the first 12 months

Benefits of Using the EMI Calculator

Instant Results - Get your EMI amount in seconds.
Accurate Calculations - Eliminate the risk of calculation errors when applying for loans.
Financial Planning - Plan your financial budget better before applying for your loan.
Flexible Inputs - Change your loan amount, tenure and interest rate in order to find the most suitable loan.
Comprehensive Information - Inform yourself about your future repayment pattern through graphs and tables.

Formula Used in EMI Calculator

The EMI Calculator is based on the conventional formula used to calculate loans:

EMI = P x r x ( 1 + r )n / (( 1 + r )n - 1)

Where:

P = Loan amount
r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
n = Loan tenure in months

Why should I use your EMI Calculator?

Our EMI Calculator is the fastest, most accurate and simple to use. It is also applicable to every type of loan. Our EMI Calculator has a full print out of your loan repayment schedule. By using this EMI Calculator application you will be able to better compare different offers and suit it to your financial budget.

FAQs

An EMI Calculator calculates the monthly EMI payment amount, total interest payable, and total cost of a loan before applying for the loan.

If you have a fixed rate loan then your EMI should always remain the same. If you have a floating rate loan your EMI will change if the interest rate changes.

Yes, our EMI calculator can be applied whether it is a home loan, car loan, personal loan, education loan, or any variation of these loans.

No, can able to use the EMI Calculator freely without any registration.

Our EMI calculator is using standard mathematical formulas to accurately display the calculations.

Yes, the EMI calculator of a yearly payment breakdown and provides an amortization table.