Loan EMI Calculator
Calculate your monthly loan payment (EMI), total interest and full amortization schedule — for home, car and personal loans.
■ Principal ■ Interest
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
How EMI Is Calculated
EMI (Equated Monthly Installment) uses the standard formula EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate, and n the number of months. Early payments are mostly interest; later payments are mostly principal — the schedule above shows exactly how each payment splits.
Tips to Pay Less Interest
- Shorter tenure — a higher EMI over fewer years can cut total interest dramatically. Compare 5 vs 7 years above.
- Prepay early — extra payments in the first years hit the principal when interest cost is highest.
- Compare rates — even 0.5% lower rate saves a lot over a long tenure; try it in the calculator.
Frequently Asked Questions
What is a good EMI-to-income ratio?
Lenders generally like total EMIs under 35–40% of your monthly take-home income.
Does this work for home, car and personal loans?
Yes — the EMI formula is the same. Just enter the amount, rate and tenure your lender offers.
Is this calculator exact?
It matches the standard reducing-balance method used by most banks. Your lender may add fees or insurance, and round differently, so treat the result as a very close estimate.