Loan / EMI Calculator
Loan & EMI Calculator
Work out your monthly loan payment, total interest, and full repayment schedule in seconds. Everything updates instantly as you type.
View year-by-year payment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Enter loan details to see the schedule. | |||
How to Use the Loan & EMI Calculator
Enter your loan amount, the annual interest rate, and the term. The calculator instantly shows your EMI — the equated monthly installment you’ll pay every month — along with the total interest and the total amount you’ll repay over the life of the loan. Open the schedule below to see how much of each year’s payments goes toward principal versus interest.
How Is EMI Calculated?
EMI uses a standard formula based on three numbers: the loan principal, the monthly interest rate, and the number of months. Each payment is the same amount, but early payments are mostly interest while later payments are mostly principal. That’s why the balance falls slowly at first and faster toward the end — and why paying a little extra early can save a lot of interest.
Why Total Interest Matters
Two loans with the same monthly payment can cost very different amounts overall. A longer term lowers your monthly payment but raises the total interest, sometimes dramatically. Use the principal-versus-interest split above to see the real cost before you commit, and try shortening the term to watch the total interest drop.
Frequently Asked Questions
What does EMI stand for?
EMI means Equated Monthly Installment — the fixed amount you pay each month until the loan is fully repaid, covering both interest and principal.
Does a longer loan term cost more?
Usually yes. A longer term lowers the monthly payment but means more payments overall, so you pay more total interest even at the same rate.
Is this calculator accurate for mortgages and car loans?
Yes. The same EMI formula applies to mortgages, auto loans, and personal loans with a fixed rate and equal monthly payments.
Are my numbers saved or sent anywhere?
No. Every calculation runs in your browser. Nothing you enter is stored or uploaded.