About EMI / Loan Calculator
Work out the monthly EMI (Equated Monthly Instalment) for a home, car, or personal loan, and see the full amortization schedule — how much of each payment goes to principal versus interest over the life of the loan.
How to Use
- Enter the loan amount (principal).
- Enter the annual interest rate and the tenure in months or years.
- Read the monthly EMI, total interest, and total amount payable.
- Scroll the amortization schedule to see the principal/interest split for every month.
Why Use This Tool?
- Accurate — built on precise, well-tested mathematical formulas.
- Instant — all calculations happen client-side for zero latency.
- Private — no data is sent to any server; your information stays on your device.
- Free — no sign-up, no limits, no hidden costs.
Frequently Asked Questions
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
Does a longer tenure reduce my EMI?
Yes — a longer tenure lowers the monthly EMI, but you pay more total interest over the life of the loan. A shorter tenure means a higher EMI but less interest overall.
What is an amortization schedule?
It is a month-by-month table showing how each EMI is split between interest and principal. Early EMIs are mostly interest; later ones are mostly principal, until the balance reaches zero.
What is the difference between flat-rate and reducing-balance EMI?
Reducing-balance charges interest only on the outstanding principal, which falls with every EMI — this is standard for home loans. Flat-rate charges interest on the full original principal for the whole tenure, so the effective cost is roughly 1.8–1.9× the flat rate. Always compare loans on reducing-balance terms.