EMI Calculator Online
Calculate your monthly loan EMI, total interest, and repayment amount instantly. Perfect for home loans, car loans, and personal loans with detailed payment breakdown.
₹ Loan Details
📊 Payment Summary
Monthly EMI
₹6,160
Principal Amount
₹5,00,000
Total Interest
₹2,39,158
Total Payment
₹7,39,158
Payment Breakdown
Principal: ₹5,00,000
Interest: ₹2,39,158
How to Use the EMI Calculator
- Enter Loan Amount: Input the total amount you want to borrow from the bank or lender
- Set Interest Rate: Enter the annual interest rate offered by your lender (typically ranges from 6% to 15%)
- Choose Loan Tenure: Select the repayment period in years (common tenures are 5, 10, 15, 20, or 30 years)
- Get Instant Results: The calculator displays your monthly EMI, total interest, and total repayment amount immediately
Understanding EMI Calculation
EMI (Equated Monthly Installment) is calculated using the formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (annual rate / 12 / 100)
- N = Number of monthly installments (tenure in years × 12)
Benefits of Using EMI Calculator
Instant Calculations
Get accurate EMI results in seconds with detailed breakdown
Plan Your Budget
Know your monthly payment in advance to plan finances better
Compare Loans
Evaluate different loan offers by comparing EMI amounts
100% Accurate
Calculations follow standard banking formulas for precision
Frequently Asked Questions
Is this EMI calculator free to use?
Yes, our EMI calculator is completely free to use with no registration required. You can use it as many times as you need.
Does this calculator work offline?
Yes, once the page is loaded, all calculations are performed in your browser without needing an internet connection.
Can I use this for any type of loan?
Absolutely! This calculator works for home loans, car loans, personal loans, education loans, or any loan with fixed monthly payments.
How accurate is this EMI calculator?
Our calculator uses the standard EMI formula used by banks and financial institutions, ensuring 100% accurate results.
What is the difference between principal and interest?
Principal is the original loan amount you borrow, while interest is the cost charged by the lender for borrowing that money. Your total payment includes both.