Finance Tools / Loan / EMI Calculator
Loan / EMI Calculator
Calculate your monthly loan payment (EMI) and total interest.
Features
- Shows monthly EMI, total interest, and total payment
- Standard reducing-balance EMI formula
- Instant results
- Free, unlimited use
How to Use
Step 1
Enter the loan amount, interest rate, and term.
Step 2
Click Calculate EMI.
Step 3
Review your monthly payment and total interest.
About This Tool
Loan/EMI Calculator computes your monthly installment for a loan based on the principal, interest rate, and term.
Formula used: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P = loan amount, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = number of monthly installments.
Frequently Asked Questions
Does this include taxes or fees?
No, this calculates principal and interest only — additional fees vary by lender.
What if my interest rate is 0%?
The calculator handles this correctly, simply dividing the loan evenly across the term.