Loan EMI Calculator
Work out your monthly installment and total interest.
22,244Monthly EMI
334,667Total interest
1,334,667Total payment
About the Loan EMI Calculator
An EMI is the fixed monthly installment you pay on a loan. This calculator works out your EMI, the total interest and the total amount you will repay, so you can compare loan offers and plan your monthly budget before you sign.
How to use the Loan EMI Calculator
- Enter the Loan amount.
- Enter the yearly Interest rate as a percentage.
- Enter the loan length in Years.
- Read the Monthly EMI, Total interest and Total payment.
Good to know
- The tool uses the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of months.
- Banks may add processing fees, insurance or other charges that are not included here. Ask for the full repayment schedule.
- Some financing products, including many Islamic financing options, are priced differently. Treat the result as an estimate and confirm with your lender.
Frequently asked questions
Does a longer loan mean a lower EMI?
Yes, the monthly payment falls, but you usually pay much more interest in total. Compare total payment for different lengths.
What if the interest rate is zero?
The tool divides the loan equally over all months.
Can I use it for a car, home or personal loan?
Yes, for any loan with equal monthly installments and a fixed yearly rate.