Loan EMI Calculator

Calculate your Equated Monthly Installment (EMI), total interest, total payment and full amortization schedule for any loan.

Calculate your EMI

Works for any loan type — enter your own amount, rate and tenure.

$
60 months = 5 years

Result

Monthly EMI
$0
Total interest
$0
Total payment
$0

Amortization schedule

MonthPaymentPrincipalInterestBalance

Formula used

EMI = P × r × (1+r)n ÷ ((1+r)n − 1)

P
Loan principal
r
Monthly interest rate (annual rate ÷ 12 ÷ 100)
n
Number of monthly installments
Example: $500,000 at 7.5% for 60 months → EMI ≈ $10,018.97, total interest ≈ $101,138.46.

How to use this calculator

  1. Enter the loan amount you plan to borrow.
  2. Enter the annual interest rate offered.
  3. Enter the loan tenure in months and press Calculate.
  4. Click Show amortization schedule to see the month-by-month breakdown.

FAQ

Frequently asked questions

What is EMI?

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan, covering both principal and interest, until the loan is fully paid off.

What is the EMI formula?

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly interest rate, and n is the number of monthly installments.

Why does the interest portion decrease over time?

Each EMI is fixed, but interest is charged on the remaining balance, which shrinks every month — so more of each payment goes toward principal as the loan matures.

What happens if the interest rate is 0%?

With a 0% rate, the EMI is simply the loan amount divided evenly by the number of months, with no interest charged.

Can I see a full payment schedule?

Yes. After calculating, a month-by-month amortization schedule showing principal, interest and remaining balance is displayed below the results.