EMI Calculator
Calculate the EMI for any home, car, personal or education loan, see total interest and download the full repayment schedule.
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How to use EMI Calculator
- 1
Open EMI Calculator on this page. It loads right in your browser.
- 2
Add your file, text or values and adjust the settings.
- 3
Copy the result or download it. Nothing is uploaded or stored.
How to use it: EMI Calculator
An EMI (equated monthly instalment) is the fixed amount you repay every month until a loan is closed. This EMI calculator works for home loans, car loans, personal loans and education loans: pick a preset or type your own loan amount, interest rate and tenure in years or months.
You instantly see the monthly EMI, the total interest, the total amount payable (optionally with a processing fee) and a principal-versus-interest chart. The repayment schedule shows, year by year or month by month, how each EMI is split and how the outstanding balance falls.
How to use it
- Choose Home, Car, Personal or Education loan, or enter your own figures.
- Set the loan amount, the annual interest rate and the tenure in years or months.
- Add the processing fee if you want it in the total cost.
- Read the EMI, total interest and the repayment schedule, and download it as CSV.
How it is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Worked example
Take a ₹30 lakh home loan at 8.5% for 20 years. The EMI is about ₹26,035, the total interest about ₹32.5 lakh and the total payment about ₹62.5 lakh. Cut the tenure to 15 years and the EMI rises to about ₹29,542, but total interest drops to roughly ₹23.2 lakh, a saving of over ₹9 lakh. That trade-off between a lower EMI and a lower total cost is exactly what the schedule helps you judge.
Who uses it
- Home buyers planning a housing loan
- Car buyers comparing dealer and bank finance
- Students estimating education-loan repayments
- Anyone checking whether a personal loan EMI fits their monthly budget
Tips
- A longer tenure lowers the EMI but raises the total interest; compare both before you sign.
- In the early years most of each EMI is interest, so prepayments made early save the most.
- Banks usually want your total EMIs to stay below 40 to 50% of your monthly take-home pay.
Free, private and instant: every calculation runs in your browser, nothing is uploaded or stored, and there is no sign-up or limit. Related calculators: loan calculator, mortgage calculator, SIP calculator.
Features
- Presets for home, car, personal and education loans
- Tenure in years or months
- Principal vs interest chart
- Yearly and monthly repayment schedule with CSV
- Processing fee included in the total cost
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r the monthly rate and n the number of months. The calculator applies this formula instantly.
Does a longer tenure reduce the EMI?
Yes, the EMI falls, but you pay interest for more months, so the total interest rises. The calculator shows both numbers side by side.
What is the EMI for a 10 lakh loan?
At 10% for 5 years the EMI is about ₹21,247; at 9% for 10 years about ₹12,668. Enter your exact rate and tenure for the precise figure.
Does the EMI include insurance or fees?
No. The EMI covers principal and interest only. You can add a processing fee to see the total cost; insurance premiums are separate.
How can I reduce my EMI?
Choose a longer tenure, make a bigger down payment, negotiate a lower rate or transfer the loan to a cheaper lender. Each option is easy to test by changing one field.
What happens to the EMI when interest rates change?
On a floating-rate loan the bank either changes your EMI or, more often, extends the tenure. Re-enter the new rate here to see both effects.
Is this calculator free and private?
Yes. It is completely free, needs no account and runs entirely in your browser, so the numbers you type are never sent to a server or stored.