Calculate monthly loan EMI payments, total interest costs, and repayment schedules with our free EMI Calculator. Compute installments for home mortgages, auto loans, personal financing, and commercial debt with 100% offline privacy.
Input the total loan amount you intend to borrow.
Enter the annual interest rate percentage and select your loan duration in years or months.
Instantly view your monthly installment cost, total interest payable, and repayment ratio.
Your loan amounts, bank rates, and financial planning calculations are processed strictly inside your browser. No financial data is ever logged.
Uses official banking reducing-balance formulas to provide exact, real-time monthly payment figures down to the exact cent.
Dynamic visual breakdown bars clearly illustrate what portion of your total repayment goes toward principal reduction versus interest charges.
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a financial lender each calendar month.
The mathematical reducing-balance formula for EMI is:
\(\text{EMI} = \frac{P \times r \times (1 + r)^n}{(1 + r)^n - 1}\)
Where \(P\) is Principal loan amount, \(r\) is monthly interest rate (\(\frac{\text{Annual Rate}}{12 \times 100}\)), and \(n\) is loan tenure in months.
\(\text{Total Interest Payable} = (\text{EMI} \times n) - P\)
Initial EMI payments consist mostly of interest charges. As the principal balance decreases over time, a larger proportion of each monthly payment goes directly toward paying down principal debt.