Free Online EMI Calculator
Type your loan amount, annual interest rate, and repayment period in years. You get monthly EMI, total interest, total repayment, and a schedule by year or month. Pick ₹ or $ to match your loan.
| Monthly EMI | ₹43,391.16 |
| Principal | ₹50,00,000 |
| Total interest | ₹54,13,879 |
| Total repayment | ₹1,04,13,879 |
Amortization schedule
| Year | Principal | Interest | Payment | Balance |
|---|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹5,20,694 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹5,20,694 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹5,20,694 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹5,20,694 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹5,20,694 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹5,20,694 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹5,20,694 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹5,20,694 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹5,20,694 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹5,20,694 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹5,20,694 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹5,20,694 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹5,20,694 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹5,20,694 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹5,20,694 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹5,20,694 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹5,20,694 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹5,20,694 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹5,20,694 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹5,20,694 | 0 |
Related: Mortgage calculator · Car loan calculator · Compound interest
How loan EMI is calculated
EMI is the fixed monthly payment on a typical fixed-rate loan. Each installment pays interest on what you still owe and pays down some principal.
EMI = P × [r(1+r)n] / [(1+r)n − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
Fees, insurance, and tax are not included unless your lender adds them to the principal. For home price and down payment, use the mortgage calculator. For auto loans, see the car loan calculator.
Want the steps on paper? Read how to calculate loan EMI with worked examples.
How to use this calculator
- Choose ₹ INR or $ USD at the top.
- Enter the loan amount (principal) from your offer or sanction letter.
- Set the annual interest rate (e.g. 8.5 for 8.5%).
- Set tenure in years.
- Read monthly EMI, total interest, and total repayment in the summary.
- Open the amortization table and switch between yearly and monthly views.
Worked examples
Sample numbers you can try in the calculator above. Your lender's quote may differ slightly.
Home loan, ₹50 lakh
A common India home-loan size. Total interest over 20 years is roughly ₹54 lakh on top of the principal.
₹50,00,000 · 8.5% · 20 years
EMI: EMI ≈ ₹43,391/mo
Personal loan, ₹5 lakh
Shorter tenure and a higher rate than most home loans—check total interest, not just the monthly number.
₹5,00,000 · 12% · 5 years
EMI: EMI ≈ ₹11,122/mo
US loan, $200k
Principal and interest only. Property tax and insurance are extra on a home.
$200,000 · 7% · 30 years
EMI: EMI ≈ $1,331/mo
Ten years vs twenty years
The longer loan is easier each month but usually costs more interest over the full term.
₹10,00,000 · 9%
EMI: 10 yr ≈ ₹12,668/mo · 20 yr ≈ ₹8,997/mo
Frequently asked questions about the EMI calculator
What is EMI on a loan?
EMI is your fixed monthly payment until the loan ends. Each payment covers interest on the balance plus some principal.
How do I calculate EMI from interest rate and tenure?
Use the loan amount as P, convert the annual rate to a monthly rate (divide by 12 and by 100), and set n to months (years × 12). The calculator applies the standard amortization formula for you.
Can I use this as a home loan EMI calculator?
Yes. Enter the amount you borrow after your down payment, your home loan rate, and tenure in years. If you only know property price and down payment, start with the mortgage calculator instead.
Does a lower interest rate reduce EMI?
Yes, if the loan amount and tenure stay the same. A lower annual rate lowers both the monthly EMI and the total interest you pay.
Is this EMI calculator free?
Yes. It runs in your browser. No account and no download.
How is this different from the car loan calculator?
Same math. This page is for general EMI searches and longer tenures (up to 30 years). The car loan page uses auto-style examples and typical car loan terms.