Loan EMI Calculator
Calculate your Equated Monthly Installment (EMI) and plan your loan repayment
Loan Details
EMI Breakdown
The calculation is based on a standard EMI formula and assumes a fixed interest rate for the entire loan tenure.
How to Use This Tool
Enter Loan Details
Input the loan amount, interest rate, and loan tenure using the sliders or input fields.
Click Calculate
Press the “Calculate EMI” button to see your monthly installment amount.
Analyze Results
Review your EMI breakdown, total interest payable, and payment allocation between principal and interest.
Adjust Parameters
Modify the values to see how different loan amounts, tenures, or interest rates affect your EMI.
About This Calculator
Our Loan EMI Calculator helps you plan your finances by calculating your Equated Monthly Installment (EMI) for home loans, car loans, personal loans, or any other type of loan.
The calculator uses the standard formula for EMI calculation:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (annual rate divided by 12)
- N = Number of monthly installments
This tool provides an estimate of your monthly payments and helps you understand how much interest you will pay over the loan tenure.
Frequently Asked Questions
EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the lender each month until the loan is fully repaid. The EMI includes both principal and interest components.
A higher interest rate increases your EMI amount and the total interest paid over the loan tenure. Even a small difference in the interest rate can significantly impact your total repayment amount.
A longer loan tenure reduces your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure means higher EMIs but less interest overall.
Yes, you can reduce your EMI by opting for a longer tenure, negotiating a lower interest rate, or making a larger down payment to reduce the principal amount.
Typically, EMI includes only the principal and interest components. Other charges like processing fees, insurance, or late payment fees are usually separate and not included in the EMI calculation.