Easily calculate your monthly EMI for any loan with our free Loan EMI Calculator. Fast, accurate, and simple to use. Get instant results with detailed breakdown and visual charts.
An 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.
When you take a loan, the lender calculates your EMI based on three main factors:
Your EMI consists of two components:
In the initial years of your loan, a larger portion of your EMI goes toward interest payments. As you progress through the loan tenure, the interest component decreases while the principal component increases.
The mathematical formula to calculate EMI is:
Where:
Calculate EMIs for home mortgages with different interest rates and tenures to find the best housing loan option.
Plan your personal loan repayment with accurate EMI calculations for various loan amounts and interest rates.
Determine affordable car loan EMIs before making your vehicle purchase decision.
Plan your education financing with accurate EMI calculations for student loans.
Our calculator uses the standard EMI formula to provide precise results, helping you make informed financial decisions.
Calculate EMIs in your preferred currency including INR, USD, EUR, GBP, and more for international loan comparisons.
Get a clear visual representation of how your payments are split between principal and interest over the loan tenure.
Calculate EMIs based on both years and months to match your specific loan terms and repayment capabilities.
See your EMI, total interest, and payment breakdown instantly as you adjust loan parameters.
Use our calculator freely without any sign-up or registration - completely free and accessible.
Always compare loan offers from multiple lenders. Even a small difference in interest rates can save you thousands over the loan tenure.
While longer tenures reduce your EMI, they significantly increase the total interest paid. Opt for the shortest tenure you can afford.
Making occasional prepayments can substantially reduce your total interest burden and help close the loan faster.
A higher credit score can help you secure loans at lower interest rates, saving you money in the long run.
Remember to account for processing fees, insurance, and other charges when calculating the true cost of your loan.