EMI / Loan Calculator
Monthly loan payment (EMI), total interest, and a full amortization schedule.
Enter a loan amount, interest rate, and term to get the monthly installment (EMI), total interest paid, and total repayment — with a year-by-year breakdown.
Frequently asked questions
What formula calculates the monthly payment?
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments.
Why does the interest portion shrink over time?
Each payment is the same size, but it's split between interest (charged on the remaining balance) and principal. As the balance shrinks, less of each payment goes to interest and more goes to paying down principal.
Does this include taxes, insurance, or fees?
No — this calculates principal and interest only. Mortgages in particular often carry additional escrow for property tax and insurance on top of this figure.