Loan EMI Calculator
Enter loan details and instantly calculate EMI, total interest and total payment. Save, copy, share and check your history anytime.
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Loan EMI Calculator – Calculate EMI, Interest & Total Payment Instantly
This free Loan EMI Calculator helps you calculate your monthly EMI, total interest payable, and total amount to be repaid for any home loan, car loan, personal loan, or business loan.
Just enter your loan amount, interest rate, and tenure, and the calculator instantly shows accurate EMI results along with a full breakdown.
You can also copy, save, share, and view the history of all previous EMI calculations.
What Is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month until your loan is fully repaid.
It includes both:
Principal Amount
Interest Amount
The EMI remains the same every month, but the interest and principal distribution changes over time.
How to Use the Loan EMI Calculator
Follow these simple steps:
Enter your Loan Amount (example: ₹5,00,000)
Enter Interest Rate (example: 9.5% per year)
Enter Loan Tenure in months (example: 60 months = 5 years)
Click Calculate EMI
Instantly view:
EMI per month
Total interest payable
Total repayment amount
Use options:
Copy results
Save to history
Share
Load previous calculations
Fast, clean, and accurate.
EMI Formula (How EMI Is Calculated)
The formula used to calculate EMI is:
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ – 1)
Where:
P = Loan amount
r = Monthly interest rate (Annual Rate ÷ 12 ÷ 100)
n = Tenure in months
This is the standard RBI-recommended formula, used by all banks in India.
Why EMI Calculation Is Important
A Loan EMI Calculator helps you:
Understand how much you can afford every month
Compare different loan plans
Estimate total interest cost
Choose the best tenure for your budget
Avoid hidden surprises from banks
Plan home loan, car loan, personal loan or education loan properly
It saves you from manual math and gives instant, accurate results.
Example EMI Calculations
Below are some real-life EMI examples:
| Loan Amount | Rate | Tenure | Monthly EMI |
|---|---|---|---|
| ₹2,00,000 | 10% | 36 months | ₹6,453 |
| ₹5,00,000 | 9.5% | 60 months | ₹10,497 |
| ₹10,00,000 | 8.25% | 120 months | ₹12,264 |
Factors That Affect Your EMI
Your EMI depends on:
1. Loan Amount (Principal)
Higher principal = higher EMI.
2. Interest Rate
Higher rate = more EMI + more interest.
3. Tenure (Months/Years)
Longer tenure = smaller EMI but higher total interest.
4. Loan Type
Home loan, car loan, personal loan all have different rate structures.
Benefits of Using This EMI Calculator
No manual calculations
Instant and accurate EMI
Check EMI for different tenures
Compare multiple loan options
Understand total interest cost
Helps in budgeting and financial planning
Save past calculations
Share EMI details with family or clients
Perfect for home loan, car loan, personal loan, gold loan, business loan, and education loan calculations.
FAQ – Loan EMI Calculator
What information do I need for EMI calculation?
Loan amount, interest rate, and loan tenure in months.
Can I calculate EMI for any loan type?
Yes - this calculator works for all loan types.
Does EMI remain the same every month?
Yes, EMI stays the same but interest-principal split changes every month.
What tenure should I choose?
Short tenure = high EMI but low interest.
Long tenure = low EMI but high interest.
How accurate is this EMI Calculator?
It uses the standard EMI formula used by banks, so results are accurate.
Can I save my previous EMI results?
Yes - the tool includes Save, History, Load, and Delete options.
Does it show total interest?
Yes - total interest and total repayment amount are displayed instantly.
Disclaimer
This Loan EMI Calculator gives approximate values for general understanding. Actual EMI may vary slightly depending on bank policies, GST, and hidden charges.