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EVERYDAY ANSWERS, MADE SIMPLE

Loan EMI Calculator

Estimate a fixed monthly loan installment and the total interest over the chosen term.

  • ✓ 100% Free
  • ◎ Accurate Results
  • ϟ Easy to Use
  • ▣ Works on All Devices
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Loan EMI Calculator

Calculate monthly loan payments, total payment, and total interest for personal, vehicle, housing, or business loans.

Enter loan details and calculate your monthly EMI.

About the Loan EMI Calculator

This calculator estimates the fixed monthly payment for a loan and shows total payment and total interest.

How to use it

Enter the loan amount, annual interest rate, loan term, and choose whether the term is in years or months.

Formula

EMI = P x R x (1 + R)^N / ((1 + R)^N - 1). For 0 percent interest, EMI = P / N.

Example

A Rs. 500,000 loan for 5 years at 10 percent interest gives an estimated monthly EMI.

What is EMI?

EMI means Equated Monthly Installment, the fixed amount paid each month.

Does this include fees?

No. It calculates loan payment from principal, rate, and term only.

Can I calculate a 0 percent loan?

Yes. The calculator divides the loan amount by the number of months.

How to Use

Enter the loan principal, annual interest rate, and term using the selected time unit. Calculate and review the payment breakdown.

Formula and interpretation

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where r is the monthly rate and n is the number of monthly payments. At zero interest, the installment is P / n.

Example

A principal of 12,000 over 12 months at 0% interest gives a monthly installment of 1,000. Fees and changing rates are outside this estimate.