🏦 EMI Calculator
EMI calculator online free — calculate monthly EMI for home, car and personal loans with total interest payable and a year-wise amortization schedule. Works for any currency.
- Monthly EMI
- Total interest
- Total payment
Year-wise repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
How to use the EMI Calculator
- 1 Enter loan amount, annual interest rate, and tenure in years.
- 2 Your monthly EMI, total interest and total payment appear instantly.
- 3 Review the year-wise schedule to see how the balance reduces.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate (annual ÷ 12 ÷ 100) and n the number of months. This calculator applies the exact formula used by banks.
What is a typical home loan rate in India?
Home loans currently range roughly 8–10% p.a., car loans 9–12%, and personal loans 11–18%. Enter your bank’s exact quoted rate for a precise EMI.
How can I reduce total interest?
Shorter tenure raises the EMI but slashes total interest. Prepayments early in the tenure save the most, because early EMIs are mostly interest.
Does this include processing fees or insurance?
No — it computes pure principal + interest. Banks may add one-time processing fees and optional insurance on top.