Work out the EMI on any loan
Whether you're taking a home, car, bike, personal, education, gold or business loan, the EMI (Equated Monthly Instalment) is what you pay back every month — part interest, part principal. Pick your loan type to start from typical figures, adjust the amount, rate and tenure to your actual offer, and this free calculator shows your EMI, the total interest over the loan, and a full repayment schedule. Everything runs in your browser, so your numbers stay private.
Who uses this tool
Home buyers comparing tenures before signing, car and bike buyers checking what fits their monthly budget, anyone weighing a personal or education loan, and borrowers who want to see exactly how much of each EMI is interest versus principal.
How to use it
- Pick your loan type — the amount, rate and tenure pre-fill with typical values you can edit.
- Enter your actual loan amount, interest rate and tenure (in years or months).
- Click Calculate EMI to see your monthly EMI, total interest, and the year-by-year schedule. Tap any year to expand its months.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months.
Why is early EMI mostly interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, more of each EMI goes to principal — the schedule shows this clearly.
Does this include processing fees or GST?
No. The EMI is principal + interest only. Lenders add processing fees, GST on those fees and optional insurance separately.
Can I prepay to reduce interest?
Yes — prepaying reduces the outstanding balance, so future interest falls. This calculator shows a standard schedule without prepayments.
Is it private?
Yes — the maths runs in your browser. Your loan details are never uploaded.