Free Online EMI Calculator
Calculate Equated Monthly Installments for home loans, car loans, and personal loans. See payment breakdown, total interest, and amortization schedule.
Monthly EMI
$4339.12
Total Interest
$541387.88
Total Payment
$1041387.88
How to Use EMI Calculator
- 1
Enter the loan amount, interest rate, and loan tenure
- 2
Select the loan type (home, car, personal)
- 3
Review monthly EMI, total interest payable, and total payment amount
Frequently Asked Questions
What is EMI?▾
EMI (Equated Monthly Installment) is a fixed monthly payment made to repay a loan. It includes both principal repayment and interest, calculated so you pay off the loan completely by the end of the term.
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, and n is the number of months. The formula ensures equal payments throughout the loan.
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