Loan EMI Calculator
Calculate your monthly loan payments and get a detailed amortization schedule
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
About Loan EMI Calculator
Our Loan EMI Calculator is a powerful tool that helps you calculate your monthly loan payments and understand the complete breakdown of your loan. Whether you're planning to take a home loan, personal loan, car loan, or any other type of loan, this calculator will help you make informed decisions.
Easy Calculation
Quickly calculate your monthly EMI with our user-friendly interface
Visual Analysis
Understand your loan breakdown with interactive charts and graphs
Detailed Schedule
Get a complete amortization schedule for your loan term
Export Data
Export your loan schedule to Excel for further analysis
How to Use the Loan EMI Calculator
Enter Loan Amount
Input the total amount you want to borrow
Set Interest Rate
Enter the annual interest rate offered by the lender
Choose Tenure
Select the loan duration in years or months
Calculate EMI
Click calculate to get your monthly EMI and payment schedule
Loan EMI Guide for India — Formula & Worked Example
EMI (Equated Monthly Installment) is the fixed monthly payment that covers interest first and principal next. Indian home, car and personal loans almost always use this reducing-balance method. Early in a long loan, most of each EMI is interest; later, most is principal.
Standard formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]
where P = principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = number of months.
Worked example: ₹40 lakh home loan at 8.5% p.a. for 20 years (240 months). Monthly rate R = 0.085/12. EMI ≈ ₹34,713. Total payment ≈ ₹83.3 lakh; interest ≈ ₹43.3 lakh. Adding ₹5,000 extra every month from year 3 can cut several years of tenure — model it by shortening N or using the amortization table above.
Tips for Indian borrowers: Compare APR including processing fees and mandatory insurance, not only the headline rate. Floating-rate home loans for individuals generally allow prepayment without penalty (confirm in your agreement). Keep FOIR/DTI comfortable — see our DTI calculator.
Published by HappyMynds / IFSCNOW Editorial. Read How to Calculate EMI Manually and the Home Loan Guide.