Loan EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, personal loans, and more. Plan your finances with accurate monthly payment estimates.
Calculate Your Loan EMI
Enter your loan details to calculate monthly EMI and total payable amount
Loan Summary
Enter your loan details
to see EMI calculation
Why Use EMI Calculator?
Budget Planning
Plan your monthly budget accurately by knowing your exact EMI obligation in advance.
Loan Comparison
Compare different loan offers from banks and choose the most affordable option.
Transparency
Understand the complete cost breakdown including principal and interest components.
Tenure Optimization
Find the ideal loan tenure that balances affordable EMIs with total interest cost.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It's the fixed amount you pay to the bank/lender each month to repay your loan. EMI includes both principal repayment and interest charges.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1] where P is loan amount, r is monthly interest rate, and n is number of monthly installments.
What factors affect EMI?
EMI depends on three main factors: Loan Amount (higher amount = higher EMI), Interest Rate (higher rate = higher EMI), and Loan Tenure (longer tenure = lower EMI but more interest).
What is amortization schedule?
An amortization schedule shows the breakup of each EMI payment into principal and interest components, and tracks the outstanding loan balance over the entire loan period.
Can I prepay my loan?
Most banks allow partial or full prepayment of loans, though some may charge prepayment penalties. Prepaying reduces your total interest burden and loan tenure.