Loan EMI Calculator
Use our free loan EMI calculator to calculate Equated Monthly Installment (EMI) for home loans, car loans, personal loans. Get amortization schedule and total interest - completely free with no registration required.
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About Loan EMI Calculator
Our free online loan EMI calculator helps you calculate Equated Monthly Installment (EMI) for any loan instantly. Whether you're planning a home loan, car loan, or personal loan, this loan EMI calculator makes it easy. For other number tools, check out our Number & Date Tools category.
EMI (Equated Monthly Installment) is the fixed amount you pay each month towards your loan, which includes both principal and interest components. Our loan EMI calculator uses the standard EMI formula to calculate your monthly payment, total amount payable, total interest, and provides an amortization schedule. For percentage calculations, try our Percentage Calculator.
Key Features:
- EMI calculation - Calculate monthly EMI for any loan amount
- All loan types - Works for home loans, car loans, personal loans, and more
- Amortization schedule - See principal and interest breakdown for each month
- Total interest - Calculate total interest payable over loan tenure
- Flexible tenure - Enter tenure in years and/or months
- Comprehensive results - Get EMI, total amount, interest percentage, and more
Enter the total loan amount you want to borrow
Enter the annual interest rate percentage
Enter loan tenure in years and/or months (e.g., 5 years 6 months)
How to Calculate Loan EMI
- Enter the loan amount (principal) - the total amount you want to borrow
- Enter the annual interest rate percentage offered by the lender
- Enter the loan tenure in years and/or months (e.g., 5 years 6 months)
- Click "Calculate EMI" to get your monthly EMI
- Review the results including EMI, total amount payable, and total interest
- Check the amortization schedule to see principal and interest breakdown for each month
Learn more: According to Wikipedia's article on EMI , Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is fully paid off along with interest.
Loan EMI Calculator Use Cases
Home Loans
Calculate EMI for home loans and plan your housing finance
Car Loans
Calculate EMI for car loans and vehicle financing
Personal Loans
Calculate EMI for personal loans and plan your finances
Financial Planning
Plan your finances and budget for loan repayments
Frequently Asked Questions
Is the loan EMI calculator free to use?
Yes, our loan EMI calculator is completely free to use. No registration or payment required.
What is EMI?
EMI stands for Equated Monthly Installment. It's the fixed amount you pay each month towards your loan, which includes both principal and interest components.
What loan types are supported?
Our calculator works for all types of loans including home loans, car loans, personal loans, and any other loan with fixed interest rates.
Does it show amortization schedule?
Yes, our calculator shows an amortization schedule displaying the principal and interest breakdown for each month (first 12 months displayed).
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is loan tenure in months.
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