EMI Calculator
Last updated: May 8, 2026Monthly loan EMI, interest and totals.
EMI Calculator is a free online calculator to monthly loan EMI, interest and totals. It runs entirely in your browser, so your files never leave your device — nothing is uploaded. There's no sign-up, no watermark, and it works on any modern browser on desktop or mobile.
How to use EMI Calculator
This EMI calculator works out the fixed monthly installment on a home, car or personal loan from the principal, annual interest rate and tenure. It uses the standard reducing-balance formula EMI = P times r times (1+r)^n divided by ((1+r)^n minus 1), where r is the monthly rate and n is the number of months. Borrowers use it to compare offers and see total interest before signing.
Read the full guide: How to Calculate EMI: Loan EMI Formula and Examples
- 1Enter the loan amount, annual interest rate and tenure in months or years.
- 2Adjust any value to test a different down payment, rate or term.
- 3Read your monthly EMI along with total interest and total amount payable.
Full repayment picture
See not just the EMI but the total interest and the grand total you will repay.
Instant what-if testing
Tweak the rate or tenure to find a monthly payment that fits your budget.
Works for any loan
The same reducing-balance math applies to home, car and personal loans.
EMI Calculator — frequently asked questions
What formula does the EMI calculator use?
It uses the reducing-balance formula EMI = P x r x (1+r)^n / ((1+r)^n - 1). P is the principal, r is the annual rate divided by 12 and 100, and n is the total number of monthly payments. Interest is charged on the outstanding balance, which falls each month.
Why does total interest fall when I shorten the tenure?
A shorter tenure means fewer months of interest accruing on the balance, so even though each EMI is larger, you pay less interest overall. Lengthening the tenure lowers the EMI but increases total interest.
Does it include processing fees or insurance?
No. It calculates the pure loan EMI from principal, rate and tenure. Lender charges like processing fees, GST or insurance are separate and would add to your real cost.
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