EMI Calculator
Work out the monthly EMI on any loan in seconds.
EMI stands for Equated Monthly Instalment — the fixed amount you repay each month on a loan, covering both principal and interest. This EMI calculator works it out for a home, car, education or personal loan: set the loan amount, interest rate and tenure, and instantly see your monthly EMI, total interest, total amount payable, a principal-vs-interest chart and a year-wise amortization schedule. Runs fully in your browser — nothing is uploaded.
How to use EMI Calculator
Enter loan amount
Drag or type your loan amount into this free online EMI calculator to set the principal for your home, car, personal or education loan.
Set interest rate
Enter the annual interest rate just as banks quote it, and the tool converts it to a monthly rate to compute your EMI instantly.
Choose loan tenure
Pick years or months and set the repayment tenure, since a longer tenure lowers your monthly EMI but increases the total interest paid.
Read monthly EMI
The hero shows your equated monthly instalment at once, using the standard reducing-balance formula on your loan amount, interest rate and tenure.
See interest split
View the donut splitting principal from total interest and the total amount payable, so you know exactly how much the loan really costs.
Review amortization
Scan the year-wise amortization schedule to track how each year clears principal versus interest and the outstanding balance, all calculated privately in-browser.
Frequently asked questions
What is an EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you repay every month until the loan is fully paid. Each instalment covers part interest and part principal.
Does a longer tenure reduce my EMI?
Yes. A longer tenure spreads the loan over more months, so each EMI is smaller — but you pay more total interest. A shorter tenure means a higher EMI but less interest overall.
Is the interest rate yearly or monthly?
Enter the annual (per-year) rate, just like banks quote it. The calculator converts it to a monthly rate internally (annual ÷ 12).
What does the year-wise schedule show?
It’s an amortization table: for each year it shows how much of your payments went to principal vs interest, the outstanding balance, and the percentage of the loan cleared so far.
How do I calculate the EMI on a home loan or car loan?
Enter the loan amount, the annual interest rate and the tenure, and this EMI calculator instantly shows your monthly EMI, the total interest and the total amount payable. It works for home loan, car loan, personal loan and education loan EMIs — just change the figures to match your offer.
How can I lower my monthly EMI?
You can reduce your EMI by lowering the loan amount, negotiating a lower interest rate, or choosing a longer tenure — though a longer tenure increases the total interest you pay. Use the sliders to compare scenarios and find an EMI that fits your monthly budget.
Is my data sent anywhere?
No. Every number is calculated in your browser with JavaScript — nothing you type is uploaded.
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