EMI Calculator

Calculate your monthly loan EMI instantly. Get a full breakdown of principal vs interest and a month-by-month amortization schedule.

₹1 Lakh ₹10,00,000 ₹5 Cr
1% 8.5% 24%

How to Use the EMI Calculator

  1. Enter loan amount: Type your principal loan amount in rupees (₹). For example, ₹10,00,000 for a 10 lakh home loan.
  2. Enter interest rate: Input the annual interest rate offered by your bank. For example, 8.5% for a typical home loan.
  3. Set tenure: Enter the loan tenure in years or months. Toggle between years and months using the buttons next to the tenure field.
  4. Calculate: Click "Calculate EMI" to instantly see your monthly EMI, total interest payable, total amount paid, and a principal-vs-interest breakdown chart.
  5. View schedule: Click "Show Amortization Schedule" to see a full month-by-month breakdown of principal paid, interest paid, and outstanding balance for each installment.

Frequently Asked Questions

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender on a specific date each calendar month. EMIs are used to pay off both interest and principal each month so that after a specified number of years, the loan is fully paid off.
The standard EMI formula is: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly installments. This calculator uses this exact formula.
A longer tenure reduces your monthly EMI but significantly increases the total interest you pay. A shorter tenure gives you a higher EMI but you pay less total interest. Use this calculator to compare different tenure options and find the right balance for your budget.
An amortization schedule is a table showing each monthly payment broken down into: (1) the portion going toward the principal, (2) the portion going toward interest, and (3) the remaining balance. In the early months, most of your EMI goes toward interest. As the loan progresses, more goes toward the principal.
No. This calculator provides a standard EMI calculation based on the reducing balance method. It does not include processing fees, insurance, prepayment charges, or GST. Your bank's actual loan offer may include these additional costs. Always check your loan sanction letter for the full cost breakdown.
Yes. The EMI formula is the same for all reducing-balance loans including home loans, car loans, personal loans, and education loans. Just enter the correct principal, rate, and tenure for your specific loan.
No. All calculations happen entirely in your browser using JavaScript. No data is sent to any server. Your financial information stays completely private on your device.

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