Loan EMI Calculator
Work out your monthly loan payment, total interest, and a full month-by-month amortization schedule — instantly, entirely inside your browser.
What is a Loan EMI Calculator?
EMI stands for Equated Monthly Installment — the fixed amount paid each month toward a loan until it's fully repaid. Every EMI payment is split between interest and principal, and that split shifts over the life of the loan: early payments are mostly interest, while later payments are mostly principal. This calculator works out the EMI from a loan amount, annual interest rate, and tenure, then breaks the full repayment period down into a month-by-month amortization schedule and a chart of the remaining balance over time.
It's built for anyone comparing loan offers or planning a repayment budget: homebuyers estimating a mortgage payment, car buyers comparing auto loan terms, students weighing education loan options, or anyone who wants to see exactly how much of each payment goes to interest versus principal before signing anything.
GuideHow to use it
How the EMI is calculated
The calculator uses the standard reducing-balance EMI formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan principal, r is the monthly interest rate (the annual rate divided by 12 and by 100), and n is the number of monthly installments. Interest is charged only on the outstanding balance, so each month the calculator works out that month's interest, subtracts it from the fixed EMI to find the principal portion, and reduces the balance by that amount before moving to the next month — which is exactly what a lender's amortization schedule does.
Why it helpsFeatures & benefits
Reading the amortization schedule
Each row in the schedule represents one monthly payment: the fixed EMI, how much of it went to interest, how much went to principal, and the remaining balance after that payment. Because interest is calculated on a shrinking balance, the interest portion is largest in month one and smallest in the final month, while the principal portion does the opposite — this is why paying down a loan faster than scheduled saves the most interest early on, when the balance is highest.
Why this runs entirely in your browser
Loan details are financial information, so this calculator never sends them anywhere. The EMI formula and the full amortization loop run in JavaScript locally in the tab, which means it keeps working offline once the page has loaded and nothing typed into it persists after the tab is closed.
Getting an accurate estimate
This calculator assumes a fixed interest rate and equal monthly payments with no extra fees, which matches most standard fixed-rate loans but won't exactly match a variable-rate loan or one with added charges like processing fees or insurance. Double-check the annual rate is entered as a percentage (e.g. 7.5, not 0.075) and that the tenure unit — years or months — matches what your lender quoted.
Frequently asked questions
A few things people usually want to know before trusting the numbers.
It uses the standard reducing-balance EMI formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly payments.
Interest is charged only on the remaining balance. As the balance drops with each payment, the interest portion of the next EMI drops too, so more of each payment goes toward principal as the loan matures.
No. It calculates a pure principal-and-interest EMI based on the amount, rate, and tenure entered. Lender fees, taxes, and insurance are not included.
Yes. Switch the tenure unit between years and months, and the calculator converts it internally to the number of monthly payments.
No. All calculations run locally in your browser. Nothing entered here is sent to a server, stored, or shared.