Loan EMI Calculator

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

Example: $10,000 loan at 12% for 2 years → EMI: ~$470/month

What is an EMI?

An Equated Monthly Installment (EMI) is the fixed amount you repay every month on a loan. Each EMI covers part interest and part principal, so the loan is fully cleared by the end of the term.

The EMI formula

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)

P = loan principal
r = monthly interest rate (annual rate ÷ 12 ÷ 100)
n = number of monthly installments (years × 12)

How to use it

Enter the loan amount.
Enter the annual interest rate.
Enter the loan tenure in years.
Calculate to see your monthly EMI, total interest and total amount payable.

Tips to reduce your EMI burden

A longer tenure lowers the EMI but increases total interest paid.
Even a small rate reduction can save a large sum over a long loan.
Prepaying when possible cuts the outstanding principal and overall interest.

Results are indicative; lenders may add processing fees and use slightly different rounding.

Frequently Asked Questions

What does EMI stand for?

EMI stands for Equated Monthly Installment, the fixed monthly payment that repays both interest and principal on a loan.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers each monthly payment but increases the total interest you pay over the life of the loan.

Is the interest rate monthly or yearly here?

Enter the annual interest rate. The calculator converts it to a monthly rate internally for the EMI formula.

Does this tool store my data?

No. Everything runs entirely in your browser. Nothing you enter is uploaded, saved, or shared.