💳 EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loans, car loans and personal loans instantly.

Loan Amount

Interest Rate (% per year)

Loan Tenure

Tenure Type

Monthly EMI

Principal Amount

Total Interest

Total Payment

🟦 Principal 🟧 Interest

📊 Yearly Breakdown

Year	Principal Paid	Interest Paid	Remaining Balance

What is the EMI Calculator?

The EMI Calculator works out your Equated Monthly Installment — the fixed amount you pay each month toward a home, car, personal, or business loan. Enter the loan amount, annual interest rate, and tenure, and it returns your monthly EMI, total interest paid, total payment, and a year-by-year breakdown of principal versus interest using the standard reducing-balance method banks use.

How to Use It

Enter the loan amount you plan to borrow, the annual interest rate, and the tenure in years or months. Results update instantly, showing your monthly EMI alongside a visual principal/interest split and a yearly amortization table so you can see exactly how the balance declines over the life of the loan.

When to Use It

Use it before taking out a loan to see whether the monthly payment fits your budget, when comparing offers with different rates or tenures, or when deciding between a shorter tenure with higher payments and a longer one with lower payments but more total interest.

Who Benefits

Borrowers shopping for a home, auto, or personal loan, and anyone budgeting for a large purchase, can use it to compare lender quotes side by side. It's also useful for existing borrowers who want to understand how much of their current payment goes toward interest versus principal.

Worked Example: A 500,000 Loan over 20 Years

Borrow 500,000 at 8.5% a year on a reducing balance for 240 months. The monthly rate is 8.5% ÷ 12 = 0.7083%. The EMI works out to about 4,339. Over 240 payments you pay about 1,041,388, so the interest is about 541,388, which is more than the amount you borrowed.

Flat Rate vs Reducing Rate

Some lenders quote a flat rate, where interest is charged on the full original amount for the whole term. At 8.5% flat on the same loan, the interest is 500,000 × 0.085 × 20 = 850,000, so the total is 1,350,000 and the EMI is 1,350,000 ÷ 240 = 5,625. To produce that EMI on a reducing balance you would need a rate of about 12.3%. When you compare offers, convert flat rates to a reducing-balance rate first.

Where the Money Goes

In the early months, most of each EMI is interest. In month 1 of the example, interest is 500,000 × 0.7083% = 3,542, so only about 797 of the 4,339 reduces the balance. That is why paying extra early shortens a loan so much more than paying extra late.

Before You Sign

Ask for the total amount you will repay, not just the EMI.
Check processing fees, insurance and early-settlement charges.
Check whether the rate is fixed or can change.

Frequently Asked Questions

This calculator uses the reducing balance method (standard for most loans), where interest is calculated on the outstanding principal each month, not the original amount. A flat-rate loan charges interest on the full original amount for the entire term, which results in a higher effective rate for the same stated percentage.

Yes. This calculator works for any type of amortizing loan — home, car, personal, or business — just enter the relevant loan amount, interest rate, and tenure.

Interest is charged on the remaining balance, not the original loan amount. Early payments are mostly interest since the balance is still high; as the principal shrinks, more of each fixed EMI goes toward paying it down. This is why paying extra toward the principal early in a loan saves more total interest than paying the same extra amount later.