Free Loan & EMI Calculator
Calculate monthly installments, total interest and view an amortization schedule. Safe, fast and ad-friendly.
How this EMI calculator helps you
This Loan & EMI Calculator helps you quickly estimate monthly installments (EMI), total interest payable and total repayment amount for any loan — personal loan, car loan, home financing or consumer finance. Enter your loan amount, annual interest rate and tenure (in months), and press Calculate EMI. The tool shows monthly installment, total interest, and an optional amortization schedule that breaks down each payment into principal and interest components.
Using this calculator before borrowing is important — it gives you a realistic view of monthly cashflow and helps compare different plans. You can also add one-time processing fees to the calculation, and download the amortization schedule as a CSV for personal records.
Tips to reduce EMI and interest
- Increase down payment to reduce principal.
- Negotiate lower interest rate — even 0.5% lower reduces total interest significantly.
- Choose a shorter tenure to pay less interest (EMI will increase).
- Prepay when possible; check lender prepayment charges first.
Frequently Asked Questions (FAQs)
EMI (Equated Monthly Installment) is the fixed monthly payment made by a borrower to a lender, consisting of principal and interest.
Q: Which inputs are required?You need the loan amount, annual interest rate (in %), and loan tenure (months). Processing fees are optional.
Q: Is this exact to my bank's calculation?This calculator uses standard EMI formula used by most lenders. Small differences can occur due to rounding, day count methods, or lender-specific fees.
Q: Is this tool free to use?Yes, it’s completely free and for informational use only. Always confirm exact figures with your bank or lender.