Loan and EMI Calculator

Calculate monthly loan payments (EMI) and view a full amortization schedule with principal and interest breakdown.

Loading...
1. Enter the total loan amount you are borrowing. 2. Set the annual interest rate offered by the lender. 3. Specify the loan tenure in months or years. 4. View the monthly EMI payment, total interest paid, and total amount payable. 5. Review the full amortization schedule showing principal and interest breakdown per month.

About This Tool

The loan and EMI calculator helps you determine your monthly payment for any loan based on the principal amount, interest rate, and loan tenure. It generates a detailed amortization schedule showing exactly how much of each payment goes toward principal versus interest over the life of the loan.

Whether you are considering a personal loan, car loan, education loan, or business loan, this calculator provides the clarity you need to make informed borrowing decisions. The amortization table reveals how your outstanding balance decreases over time and how the ratio of principal to interest shifts with each payment.

Comparing loan offers becomes effortless when you can see the total interest paid and the complete payment breakdown. Adjust the loan parameters to find a monthly payment that fits your budget, and use the schedule to plan prepayments that can save you thousands in interest.

Formula / How It Works

EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P = principal, r = monthly interest rate (annual rate / 12), n = total number of monthly payments

Frequently Asked Questions

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It is calculated using the formula that considers the principal, interest rate, and tenure, ensuring each payment covers both interest and a portion of the principal so the loan is fully repaid by the end of the term.
An amortization schedule is a table showing each monthly payment broken down into principal and interest components. Early payments are mostly interest, while later payments are mostly principal. The schedule helps you understand exactly where your money goes each month.
You can reduce total interest by making a larger down payment, choosing a shorter loan term, making extra payments toward the principal, or refinancing at a lower interest rate. Even small additional monthly payments can significantly reduce total interest over the life of the loan.
Yes, a longer loan term reduces your monthly EMI because the principal is spread over more payments. However, you end up paying significantly more in total interest over the life of the loan. It is important to balance affordability with total cost.
Flat rate interest is calculated on the original principal for the entire loan term, making it more expensive. Reducing balance interest is calculated on the outstanding principal, which decreases with each payment. Most modern loans use the reducing balance method, which this calculator also uses.

Related Tools

Mortgage Calculator

Calculate monthly mortgage payments, total interest, and view amortization for home loans with taxes and insurance.

Finance and Business

Compound Interest Calculator

Calculate compound interest with visual chart showing growth over time. Supports various compounding frequencies.

Finance and Business

Auto Loan Calculator

Calculate monthly car payments, total interest, and view an amortization schedule with early payoff options.

Finance and Business

Debt Payoff Calculator

Compare snowball vs avalanche debt payoff methods. See payoff timeline and total interest saved.

Finance and Business

Simple Interest Calculator

Calculate simple interest on a principal amount with a fixed rate and time period. Quick and straightforward.

Finance and Business

Break-Even Calculator

Calculate the break-even point for your business. Find how many units or revenue needed to cover all costs.

Finance and Business