Loan EMI calculator
Monthly instalment, total interest and the repayment schedule
How to use it
- Enter your numbers.
- The result updates as you type.
- Change any value to see a different outcome.
Questions
How is EMI calculated?
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. For ₹10,00,000 at 10% for 5 years the EMI is ₹21,247.
Why is so much of my first payments interest?
Interest is charged on the balance you still owe, which is highest at the start. As the balance falls, more of each fixed payment goes to principal.
Does an extra payment really help?
Yes. Extra money goes straight to principal, so you owe less next month and pay less interest on it. Over many years the saving can be large. Check that your lender does not charge a prepayment fee.
Is anything I enter stored?
No. Calculations happen in your browser and nothing you type is sent or saved.
Is it free?
Yes, you can use it for free. A subscription removes limits and unlocks premium tools.