Free Loan EMI Calculator Online
Calculate your monthly EMI, total interest payable and view a complete month-by-month amortisation schedule for home, car or personal loans.
View Amortisation Schedule
| # | EMI | Principal | Interest | Balance |
|---|
About the Loan EMI Calculator
EMI (Equated Monthly Instalment) is the fixed amount you pay each month to repay a loan. It consists of a principal component and an interest component. This calculator uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate, and n is the number of months.
The amortisation schedule shows how each payment is split between principal and interest over the life of the loan, helping you understand how quickly you are building equity.
How to Calculate Loan EMI
Enter Loan Amount
Type the principal loan amount you want to borrow.
Enter Interest Rate
Enter the annual interest rate (%) as provided by your lender.
Enter Tenure
Enter the loan tenure in months (e.g. 240 for 20 years).
View Results
See your monthly EMI, total interest, total payable and expand the amortisation table.
Frequently Asked Questions
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal, r = monthly rate (annual rate ÷ 12 ÷ 100), n = number of months.
Yes. The formula is the same for all reducing-balance loans. Simply enter the correct principal, interest rate and tenure for your specific loan type.
Yes, your loan amount, rate and tenure are saved to localStorage and pre-filled on your next visit. Nothing is sent to any server.
An amortisation schedule is a table showing each monthly payment broken down into the principal repaid and interest charged, plus the remaining loan balance after each payment.