EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans instantly. Plan your finances with detailed amortization schedule and interest breakdown.
Who This Tool Is For
Home Loan Seekers
Planning to buy a house and want to know your monthly EMI commitment
Car Loan Applicants
Calculate affordable monthly payments for your dream vehicle
Business Owners
Evaluate business loan EMIs for expansion or working capital
Personal Loan Takers
Plan personal loan repayments for various financial needs
Enter Loan Details
Your EMI Details
Payment Breakdown
Problems This Tool Solves
Affordability Assessment
Determine if the monthly EMI fits within your budget before committing to a loan
Interest Cost Clarity
Understand the total interest you'll pay over the loan tenure and make informed decisions
Loan Comparison
Compare different loan offers by adjusting interest rates and tenure to find the best deal
How to Use This Calculator
Enter Loan Details
Adjust the sliders to set your loan amount, interest rate, and desired tenure
View Instant Results
Get immediate calculations of your monthly EMI, total interest, and payment breakdown
Download & Share
Save your results or share them for future reference and decision making
What You Get
- Accurate monthly EMI calculation based on reducing balance method
- Total interest payable over the entire loan tenure
- Complete breakdown of principal vs interest components
- Visual representation with easy-to-understand charts
- Downloadable report for your records and financial planning
- No registration required - completely free to use
Need Expert Loan Advisory?
Our Chartered Accountants can help you choose the best loan option, negotiate better rates, and optimize your financial planning. Get personalized advice tailored to your needs.
Professional advice from qualified Chartered Accountants
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It's a fixed payment amount made by a borrower to a lender at a specified date each month. EMI consists of both principal and interest components.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate, and N is the loan tenure in months.
Is this calculator accurate?
Yes, our calculator uses the standard reducing balance method used by most banks. However, actual EMI may vary slightly based on your lender's specific terms and processing fees.
Can I prepay my loan?
Yes, most loans allow prepayment. Prepaying reduces your principal amount, which can significantly reduce your total interest burden. Check with your lender for prepayment terms and charges.