Loan / EMI Calculator
Calculate monthly EMI, total interest and amortization schedule
Loan / EMI Calculator works out your fixed monthly payment (EMI), the total interest you'll pay over the life of the loan, and a full month-by-month amortization schedule — enter the loan amount, annual interest rate, and term to see the breakdown.
This tool gives general estimates for informational purposes only and isn't financial advice. Consult a qualified financial advisor or your lender before making financial decisions.
How to use Loan / EMI Calculator
- 1
Enter the loan amount, annual interest rate, and term in months.
- 2
The calculator computes your monthly EMI and total interest instantly.
- 3
Review the amortization schedule showing principal and interest per payment.
- 4
Adjust any value to compare different loan scenarios.
Everything you need to know about loan and EMI calculations
What does an EMI calculation actually show?
EMI (Equated Monthly Installment) is the fixed monthly payment on a loan, calculated from the principal, interest rate, and term — this calculator also breaks out the total interest you'll pay over the life of the loan, which is often far larger than people expect on longer terms.
Why the interest rate matters more than it looks like it should
A small difference in interest rate compounds significantly over a multi-year loan term — comparing the total interest figure (not just the monthly payment) across different rate or term scenarios usually reveals a bigger gap than the headline rate difference suggests.
Related calculation
For a home loan specifically, Mortgage Calculator covers the same math with mortgage-specific context.
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Frequently Asked Questions
Is the Loan / EMI Calculator accurate?
Yes — it uses the standard reducing-balance EMI formula; results are for informational purposes and shouldn't replace advice from your lender or a financial advisor for major decisions.
Does this tool send my numbers to a server?
Yes — your loan amount, rate and term are sent to our servers to compute the result and the result is returned to you; we don't store the values.
What is EMI?
Equated Monthly Installment — the fixed amount you pay each month, combining both principal and interest, that keeps every payment the same size over the loan's term.
Why does the loan term need to be in months?
Interest accrues monthly, so the calculation needs a whole number of months — enter years × 12 if your loan term is given in years.
What's the difference between this and the Mortgage Calculator?
This calculator computes EMI for any general loan from the amount, rate and term directly. The Mortgage Calculator adds a home price and down payment percentage on top, specific to home loans.
Can I use this for any type of loan?
Yes — personal loans, auto loans, student loans, or any fixed-rate installment loan, not just mortgages.