Loan EMI Calculator

Use our free loan EMI calculator to estimate your equated monthly installment, total payment, total interest, and interest vs principal ratio. Switch to Amortization Schedule mode for a period-by-period breakdown.

Financial

Currency

Mode

Loan Amount

Annual Interest Rate (%)

Loan Term (years)

years

Formula

EMI (Equated Monthly Installment) is the fixed payment amount paid by a borrower to a lender at a specified date each calendar month. This calculator shows your EMI, total interest, total payment, and the interest vs principal ratio.

EMI = P x r x (1+r)^n / [(1+r)^n - 1]

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter the loan amount (principal) you wish to borrow.
2Enter the annual interest rate offered by the lender.
3Enter the loan term in years.
4EMI Summary mode shows the monthly installment and total costs.
5Amortization Schedule mode shows the breakup of each payment.

Examples

₹1,000,000 at 8% for 20 years

1.Monthly rate r = 8%/12 = 0.6667%
2.n = 20 x 12 = 240 months
3.EMI = 1,000,000 x 0.006667 x (1.006667^240) / (1.006667^240 - 1)
4.EMI = ₹8,364.40

Result: ₹8,364.40

Frequently Asked Questions

Equated Monthly Installment is the fixed monthly payment you make to repay a loan. It includes both principal and interest components.

EMI = P x r x (1+r)^n / [(1+r)^n - 1] where P is principal, r is monthly interest rate, and n is number of monthly installments.

The loan amount, interest rate, and loan term determine the EMI. Higher amounts and rates increase EMI, while longer terms decrease it.

You can reduce EMI by negotiating a lower interest rate, extending the loan term, or making a larger down payment.

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Understanding EMI

CalculateMe Team

Last updated: 2026-07-15

Frequently Asked Questions

Equated Monthly Installment is the fixed monthly payment you make to repay a loan. It includes both principal and interest components.

EMI = P x r x (1+r)^n / [(1+r)^n - 1] where P is principal, r is monthly interest rate, and n is number of monthly installments.

The loan amount, interest rate, and loan term determine the EMI. Higher amounts and rates increase EMI, while longer terms decrease it.

You can reduce EMI by negotiating a lower interest rate, extending the loan term, or making a larger down payment.

Loan EMI Calculator

Formula

How It Works

Examples

₹1,000,000 at 8% for 20 years

Frequently Asked Questions

What is EMI?

How is EMI calculated?

What affects the EMI amount?

Can I reduce my EMI?

Related Calculators

Related Articles

Loan EMI Calculator

Formula

How It Works

Examples

₹1,000,000 at 8% for 20 years

Frequently Asked Questions

What is EMI?

How is EMI calculated?

What affects the EMI amount?

Can I reduce my EMI?

Related Calculators

Related Articles