Loan & EMI Calculator
Work out monthly loan repayments and total interest.
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- No credit card
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- Files never leave your device
- Principal$0
- Total interest$0
- Total to repay$0
How the loan / EMI calculator works
Enter the loan amount, the annual interest rate and the term. The calculator returns your fixed monthly payment (the EMI), plus the total interest and total amount you will repay over the life of the loan.
The EMI formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the principal, r is the monthly interest rate (annual ÷ 12) and n is the number of monthly payments.
Good to know
This estimate is for principal and interest only — lender fees, insurance and taxes are not included. For a home loan with extra options, try the mortgage calculator.
Frequently asked questions
What is an EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you repay each month, covering both interest and principal, until the loan is paid off.
How is the monthly repayment calculated?
Using the standard amortization formula based on the loan amount, annual interest rate and number of months in the term.
Does it include fees or insurance?
No, it shows principal and interest only. Lender fees, insurance and taxes are not included.