How is EMI calculated?

This tool uses reducing-balance EMI: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly rate (annual percent / 12 / 100), and n is the tenure in months. At 0% interest, EMI is P / n. Total payment is EMI × n; total interest is total payment minus principal.

Is tenure entered in years or months?

Either. Enter months, whole years, or year.month (1.10 = 1 year 10 months, 1.12 = 2 years). The other field updates automatically. EMI is calculated from whole months.

Does this match my bank quote?

It matches the common reducing-balance EMI formula. A lender may add processing fees, insurance, a different compounding period, or a slightly different rounding rule, so treat the result as an estimate.

What does a 0% rate mean?

A 0% rate splits the principal evenly across the months with no interest. Monthly EMI is amount / tenure, and total interest is 0.

Does my loan amount leave my device?

No. The EMI/Loan Calculator runs entirely in your browser. Amount, rate, and tenure are not uploaded or stored on a server.

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EMI/Loan Calculator

Calculate equated monthly installment (EMI) in your browser with this free EMI/Loan Calculator.

Loan amount

Annual interest rate (%)

Tenure (months)

Tenure (years)

Enter months or years. In years, 1.10 means 1 year 10 months - arrow keys move one month.

Monthly EMI

2,051.65

Total interest

23,099.19

Total payment

123,099.19

Estimate only. Uses reducing-balance EMI. Banks may add fees or use a different compounding schedule.

About EMI/Loan Calculator

Calculate equated monthly installment (EMI) in your browser with this free EMI/Loan Calculator. Enter the loan amount, annual interest rate, and tenure in months or years (each field updates the other). The tool uses the standard reducing-balance formula and shows monthly EMI, total interest, and total payment at once. Figures are estimates - banks may add fees or use a different compounding schedule. Nothing is uploaded.

How to Use EMI/Loan Calculator

Enter the loan amount (principal).
Enter the annual interest rate as a percent (for example 8.5). Use 0 for an interest-free split.
Enter tenure in months or years. Years use year.month (1.10 = 1 year 10 months). Changing one field updates the other (5 years = 60 months).
Read monthly EMI, total interest, and total payment instantly. Copy the result if you need it elsewhere - no signup required.

EMI/Loan Calculator Examples

10-year loan at 10%

1,000,000 at 10% for 120 months → EMI 13,215.07, total interest 585,808.84, total payment 1,585,808.84.

5-year personal loan

100,000 at 8.5% for 60 months → EMI 2,051.65, total interest 23,099.19, total payment 123,099.19.

Interest-free split

12,000 at 0% for 12 months → EMI 1,000, total interest 0, total payment 12,000.

3-year loan at 9%

250,000 at 9% for 36 months → EMI 7,949.93, total interest 36,197.59, total payment 286,197.59.

Read the full guide

How to Use EMI/Loan Calculator: Complete Guide (2026) - 5 min read

Frequently Asked Questions about EMI/Loan Calculator

How is EMI calculated?: This tool uses reducing-balance EMI: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly rate (annual percent / 12 / 100), and n is the tenure in months. At 0% interest, EMI is P / n. Total payment is EMI × n; total interest is total payment minus principal.
Is tenure entered in years or months?: Either. Enter months, whole years, or year.month (1.10 = 1 year 10 months, 1.12 = 2 years). The other field updates automatically. EMI is calculated from whole months.
Does this match my bank quote?: It matches the common reducing-balance EMI formula. A lender may add processing fees, insurance, a different compounding period, or a slightly different rounding rule, so treat the result as an estimate.
What does a 0% rate mean?: A 0% rate splits the principal evenly across the months with no interest. Monthly EMI is amount / tenure, and total interest is 0.
Does my loan amount leave my device?: No. The EMI/Loan Calculator runs entirely in your browser. Amount, rate, and tenure are not uploaded or stored on a server.

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