EMI Calculator
Enter your loan details to see the monthly EMI.
Work out the monthly payment on a loan in seconds. Enter the loan amount, the annual interest rate, and the tenure, and this calculator shows your EMI along with the total interest and the total amount you will repay. Everything runs in your browser.
How to use
- Enter the loan amount, the principal you plan to borrow.
- Enter the annual interest rate as a percentage.
- Enter the loan tenure, in months or years.
- Read your monthly EMI, along with the total interest and total amount payable.
Examples
- Input: loan amount 500000, interest rate 9 percent, tenure 5 years. Output: a monthly EMI of about 10379, total interest of about 122740, and total payment of about 622740.
- Input: loan amount 1000000, interest rate 8 percent, tenure 20 years. Output: a monthly EMI of about 8364, where you repay roughly twice the amount borrowed over the full tenure.
FAQs
- What does EMI mean?
- EMI stands for equated monthly installment, the fixed amount you pay each month until a loan is fully repaid. Each payment covers both interest and principal.
- How is the EMI calculated?
- It uses your loan amount, the monthly interest rate, and the number of months. Every EMI is the same size, but early payments are mostly interest and later ones are mostly principal.
- Does a longer tenure lower my EMI?
- Yes. A longer tenure spreads the loan over more months, so each EMI is smaller, but you pay more total interest over the life of the loan.
- Is my data sent anywhere?
- No. The calculation runs entirely in your browser, so the figures you enter stay on your device.
- Can I use this for any currency?
- Yes. The math is the same in any currency, since it works on the numbers you enter without assuming a specific one.
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