Loan / EMI Calculator
Monthly loan payment (EMI) and total interest from principal, rate, and term.
Formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where r is the monthly rate and n is the number of months
Worth Knowing
Your EMI stays fixed for the life of the loan, but what it's actually paying for shifts dramatically over time — this is called amortization. Early payments are mostly interest, since interest is calculated on the full remaining balance; as that balance shrinks month by month, a growing share of each payment goes toward principal instead. Practically, this means an extra payment made in year one saves far more total interest than the same extra payment made in year ten, since it stops interest from accruing on that amount for every remaining month of the loan.
How to Use
- Enter Loan amount into the first field of the Loan / EMI Calculator.
- Fill in the rest: Annual interest rate, Loan term.
- Your result appears instantly as you type — there's no submit button or page reload.
Formula
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where r is the monthly rate and n is the number of months