Loan EMI Calculator
The Loan EMI (Equated Monthly Installment) Calculator helps you estimate a fixed monthly repayment amount for loans. It combines principal and interest over your chosen tenure, making it easier to compare lenders and plan your finances. Useful for home, car, or personal loans in India, UAE, and globally.
Formula
EMI = (P × r × (1 + r)^n) ÷ ((1 + r)^n − 1)
- P — Loan principal
- r — Monthly interest rate (annual ÷ 12)
- n — Number of monthly installments
Example Calculation
Loan = ₹10,00,000 · Rate = 10% p.a. · Tenure = 60 months
Result: EMI ≈ ₹21,247 per month
Practical Uses
- Compare car loan EMIs
- Plan mortgage repayments
- Understand principal vs interest split
Results
Monthly EMI
₹4,660.66
Tenure (months)
240
Total Interest
₹6,18,557.43
Total Payment
₹11,18,557.43
* Approximate values. Actuals may vary by lender.
Amortization (first 12 months)
| Month | Interest | Principal | Balance |
|---|---|---|---|
| 1 | ₹3,958.33 | ₹702.32 | ₹4,99,297.68 |
| 2 | ₹3,952.77 | ₹707.88 | ₹4,98,589.79 |
| 3 | ₹3,947.17 | ₹713.49 | ₹4,97,876.31 |
| 4 | ₹3,941.52 | ₹719.14 | ₹4,97,157.17 |
| 5 | ₹3,935.83 | ₹724.83 | ₹4,96,432.34 |
| 6 | ₹3,930.09 | ₹730.57 | ₹4,95,701.78 |
| 7 | ₹3,924.31 | ₹736.35 | ₹4,94,965.43 |
| 8 | ₹3,918.48 | ₹742.18 | ₹4,94,223.25 |
| 9 | ₹3,912.60 | ₹748.06 | ₹4,93,475.19 |
| 10 | ₹3,906.68 | ₹753.98 | ₹4,92,721.22 |
| 11 | ₹3,900.71 | ₹759.95 | ₹4,91,961.27 |
| 12 | ₹3,894.69 | ₹765.96 | ₹4,91,195.31 |
FAQs
What is EMI?
A fixed monthly payment covering both principal and interest.
How to reduce EMI?
Prepay part of the loan, negotiate a lower rate, or extend the tenure.
Does EMI change?
Fixed-rate loans stay constant; floating-rate loans may vary.
Disclaimer
This calculator is for educational purposes only. Verify loan terms with your bank.