EMI Calculator Online
Estimate monthly loan repayments and total interest payments.
Runs entirely in your browser
Monthly EMI$2051.65
Interest Payable$23099.19
Total Payment$123099.19
Rate EMI Calculator4.9(191 votes)Rate EMI Calculator
How to use EMI Calculator
- 1Enter the loan principal amount, annual interest rate, and loan tenure in months.
- 2The monthly EMI, total interest payable, and total payment are calculated instantly.
- 3Scroll down to see the full amortization schedule showing principal and interest breakdown for each month.
Privacy & security
All loan EMI calculations run in your browser. Your financial details are never transmitted to any server.
All EMI calculations happen locally in your browser. No financial data is transmitted.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is number of months.
What's the difference between flat rate and reducing balance?
This calculator uses the reducing balance method (standard for home and car loans in India), where interest is calculated on the outstanding principal each month.
How does prepayment affect my EMI?
Prepaying reduces your outstanding principal, which reduces total interest paid. Contact your bank for their specific prepayment policies and charges.