Loan EMI Calculator
Calculate your monthly loan instalment (EMI), the total interest you will pay, and how your balance falls over time. Works for home, car and personal loans in any currency.
Loan balance over time
The line shows how much of the loan you still owe as each year passes.
How to use the loan EMI calculator
- Enter the loan amount.
- Enter the yearly interest rate.
- Enter the loan term in years.
- Read your EMI, total interest and the graphs.
EMI formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)P = loan amount, r = monthly rate (yearly rate ÷ 12 ÷ 100), n = number of months.
EMI calculation example
Loan 500,000 at 12% for 5 years: r = 0.01 and n = 60. EMI ≈ 11,122 per month. Total paid ≈ 667,333, so total interest ≈ 167,333.
Loan questions
How can I lower my EMI?
A longer term or a lower rate lowers the EMI, but a longer term raises total interest.
Does this include fees?
No. Processing fees and insurance are not included, so ask your lender for the full cost.
Related searches: EMI calculator, car loan calculator, home loan calculator, personal loan calculator, monthly payment calculator.