Free · Runs in your browser
Loan EMI calculator
Enter the amount, the interest rate and the term to see your monthly payment and what the loan costs in total.
Monthly payment (EMI)
2,169.56
- Total interest
- 270,693.94
- Total amount paid
- 520,693.94
- Number of payments
- 240
Calculated on this page. Nothing you type is sent anywhere.
How it works
An EMI (equated monthly instalment) is the fixed amount that repays a loan with interest over its term. It uses the standard amortization formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the yearly rate divided by 12, and n is the number of monthly payments.
Early payments are mostly interest and later ones mostly principal, but every payment is the same size. Total interest is the sum of all payments minus the amount borrowed. At 0% interest the payment is simply the loan amount divided by the number of months.
Read the guideLoan EMI Calculator Guide — Estimate Payments FastKeep it on your phone
The LuxeCalc app has this calculator and 19 more. It works offline, with no ads and no account.
Questions
More free calculators
- Compound Interest CalculatorHow savings grow with compound interest and monthly deposits.
- Discount CalculatorSale price and savings, including an extra discount on top.
- Percentage CalculatorPercent of a number, percent of a total and percentage change.
- Tip CalculatorTip, total and each person's share of a bill.
- BMI CalculatorBody mass index and a healthy weight range for your height.
- GPA CalculatorCredit-weighted grade point average on the 4.0 scale.