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EMI / Loan Calculator

Monthly installment, total interest and full repayment for any loan, car financing or mortgage.

Use EMI / Loan Calculator now — free ↗

How to use it

1. Enter the total loan amount.
2. Enter the annual interest or profit rate your bank charges.
3. Enter the tenure and choose years or months, then press Calculate EMI.

Why use this tool

• See the exact monthly payment before you sign anything
• The chart shows how much of your money goes to interest vs principal
• Compare two banks by changing only the rate

Common questions

Which formula is used?

The standard reducing-balance EMI formula used by banks: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate.

What if the rate is 0%?

The tool simply divides the amount by the number of months.

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