EMI / Loan Calculator
Work out your monthly EMI, total interest, and total repayment for a loan.
Enter the loan amount, annual interest rate, and tenure in months or years, and this tool calculates your fixed monthly instalment (EMI) using the standard amortising loan formula, along with the total interest you'll pay over the life of the loan and the overall repayment amount — useful for comparing loan offers or budgeting before you borrow.
How to use it
- Enter the loan amount you're borrowing.
- Enter the annual interest rate (%).
- Enter the loan tenure in months or years.
- The EMI, total interest, and total repayment appear instantly.
Frequently asked questions
What formula is used to calculate EMI?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly interest rate, and n is the number of monthly instalments — the standard formula for amortising fixed-rate loans.
Does this account for processing fees or insurance?
No, this calculates the core EMI, interest and repayment based only on principal, rate and tenure; any additional fees your lender charges aren't included.
Can I use this for a mortgage as well as a personal loan?
Yes, the same amortising formula applies to any fixed-rate instalment loan, including mortgages, car loans and personal loans.