EMI Calculator

Estimate monthly loan payments, total interest, and tenure impact in seconds.

Inputs

Currency

Loan amount

Annual interest rate (%)

Tenure (years)

How EMI works

Results

Monthly EMI

—

Total payment—

Total interest—

Number of payments—

Rate basis—

Results update when you click Calculate. Currency formatting follows your selected code.

How this calculator works

Calculates the Equated Monthly Installment (EMI) for reducing-balance loans based on principal amount, annual interest rate, and total loan duration.

Formula

EMI = P × r × (1+r)^n / ((1+r)^n - 1)

Worked Example

A loan principal of $100,000 at 8% annual interest for 15 years (180 months) produces a monthly EMI of $955.65. Total payment = $172,017 ($72,017 total interest).

Assumptions

Interest rate is fixed and compounded on a monthly reducing balance.
All payments are made on time without late fees or missed installments.
No partial principal prepayments are made during the loan tenure.

Limitations

Excludes bank processing fees, administrative costs, and loan insurance premiums.
Floating rate loans may undergo interest rate resets changing future EMIs.