EMI stands for Equated Monthly Installment, a fixed monthly payment comprising principal and interest.

Can I factor in prepayments?

Yes. Enter prepayment details to view interest saved and reduced tenure.

Is this EMI Calculator free?

Yes. It’s 100 % free with no registration or hidden costs.

EMI Calculator

Loan amount (₹)

Annual interest (% p.a.)

Tenure ( Year / Month )

Start month (optional, for display)

Part-prepayment (₹)

Prepay at month

EMI uses the standard reducing-balance formula with monthly compounding; schedule shows month-wise principal and interest. [Formula references: banking guides]

Monthly EMI

₹ 0

Total interest

₹ 0

Total payable

₹ 0

Tenure (months)

Month	EMI	Interest	Principal	Balance

EMI Calculator – Calculate Your Monthly Loan Payments Instantly | Free Online Tool

EMI Calculator – Calculate Your Monthly Loan Payments Instantly

Q: How is EMI calculated?

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = loan amount, R = monthly interest rate, N = number of months.

Q: Does it work for every loan type?

Yes. Compatible with home, car, personal, education, and business loans in any currency.

Planning a loan? Use this free EMI Calculator to view your exact monthly payment, total interest, and full amortization schedule in seconds—ideal for home loans, car loans, personal loans, or education loans.

Key Features

Instant EMI results with full breakdown.
Downloadable amortization schedule (CSV).
Prepayment simulation to show interest savings.
Supports all loan types and currencies.
100 % browser-based; no data is stored.

How to Use

Enter Loan Amount, Interest Rate, and Tenure.
(Optional) Add Prepayment Details.
Click Calculate to view EMI, total interest, and schedule.
Select Download CSV to save your report.

Benefits

Compare multiple loan offers effortlessly.
Visualize the impact of prepayments on tenure.
Eliminate manual calculations and errors.
Enhance financial planning with clear insights.

Why Choose This Calculator?

It employs the standard formula \( \text{EMI} = \frac{P \times R \times (1+R)^{N}}{(1+R)^{N} – 1} \) for precise computations, all processed locally in your browser for complete privacy.

Frequently Asked Questions (FAQs)

1. What is an EMI?

EMI stands for Equated Monthly Installment— a fixed payment that includes principal and interest.

2. How is EMI calculated?

EMI = [P × R × (1+R)^N] ÷ [(1+R)^N – 1], where P = loan amount, R = monthly rate, N = months.

3. Can I model prepayments?

Yes. Enter prepayment details to see interest saved and reduced tenure.

4. Is this tool really free?

Absolutely—no registration, ads, or hidden fees.

5. Does it work for every loan type?

Yes. It supports housing, auto, personal, education, and business loans in any currency.

More Free Financial Tools

The EMI Calculator offers clear, instant insights to help you choose the best loan and repayment strategy.