EMI Calculator
Work out the monthly EMI for a home, car or personal loan. Enter the loan amount, interest rate and tenure to see your EMI, total interest and a year-by-year breakdown — calculated instantly in your browser.
Year-by-year breakdown
| Year | Principal paid | Interest paid | Balance |
|---|
How EMI is calculated
EMI stands for Equated Monthly Installment — the fixed amount you repay every month. It's calculated with the formula EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate (the annual rate divided by 12 and by 100), and n is the number of monthly installments. Early EMIs go mostly toward interest; later ones go mostly toward principal, which the yearly breakdown above shows.
Home, car and personal loan EMIs
The same formula applies to every reducing-balance loan — only the typical amounts, rates and tenures differ. Home loans run longest (often 15–30 years) at lower rates, car loans are usually 3–7 years, and personal loans are shorter with higher rates. Adjust the three inputs to match your loan and compare the total interest.
Frequently asked questions
How is EMI calculated on a loan?
EMI uses the reducing-balance formula above: it depends on the loan amount, the monthly interest rate and the number of months. This calculator applies it instantly as you change any value.
How is car or home loan EMI calculated?
Exactly the same way — enter the loan amount, the annual interest rate and the tenure. Home loans simply tend to have longer tenures and lower rates than car or personal loans.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan. The "Total interest" figure updates so you can compare.
Is my data saved anywhere?
No. The calculation runs entirely in your browser; nothing you enter is uploaded or stored.