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EMI Calculator — Home, Car & Personal Loan EMI Online

Enter your loan amount, interest rate and tenure to see your exact monthly EMI, total interest, and full year-by-year payoff schedule — plus how prepayments can save you money.

$
% p.a.
years
$
Monthly EMI
$2,602
Total Interest$324,480
Total Payment$624,480
Payoff Time20 yrs
PrincipalInterest
YearPrincipal PaidInterest PaidBalance

Why This EMI Calculator Is Different

Most EMI calculators stop at a single number. This one shows the full picture — instantly, on any device.

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Reducing Balance Accuracy

Uses the same reducing-balance formula banks use, not a simplified flat-rate estimate.

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Prepayment Simulator

See exactly how much interest and time an extra monthly payment can save you.

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Full Amortization Table

Year-by-year principal, interest and balance breakdown, not just a total.

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Live, No-Reload Results

Every field updates the EMI instantly — no button-mashing, no page reloads.

How to Use the EMI Calculator

1

Enter your loan amount

Type it in or drag the slider to the amount you plan to borrow.

2

Set the interest rate

Use the annual rate your lender quoted (check if it's fixed or floating).

3

Choose your tenure

Pick the loan term in years or months — longer tenures lower EMI but raise total interest.

4

Optional: add a prepayment

See how an extra monthly payment shortens your loan and cuts interest cost.

Benefits of Calculating EMI in Advance

Budget confidently before you apply for a loan
Compare offers from multiple lenders quickly
Understand how tenure changes total interest
Plan prepayments to become debt-free sooner

Frequently Asked Questions

What is EMI and how is it calculated?
EMI (Equated Monthly Installment) is the fixed amount you pay each month toward a loan, covering both principal and interest. It's calculated using the reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
What is a good EMI-to-income ratio?
Most lenders prefer your total EMIs (across all loans) to stay under 40–50% of your monthly take-home income. Keeping it lower leaves room for savings and unexpected expenses.
How does prepayment affect my loan?
Extra payments go directly toward your outstanding principal, which reduces the interest charged in every following month. Even a small consistent prepayment can cut years off a long-tenure loan.
Does a longer tenure always mean I pay more?
Yes for total interest, no for monthly cash flow. A longer tenure lowers your EMI but increases the total interest paid over the life of the loan, since interest accrues on the balance for longer.
Can I use this for home, car, and personal loans?
Yes. The reducing-balance EMI formula is the same across loan types — only the typical amount, rate, and tenure ranges differ.
Is this EMI calculator accurate for my bank?
It uses the standard reducing-balance method used by most banks and NBFCs. Your exact figure may vary slightly if your lender adds processing fees, insurance, or charges interest with a different compounding convention.

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