Loan / EMI Calculator
Calculate monthly payments, total interest, and amortization schedule.
How to Calculate Your Loan EMI
- Enter the loan amount — the total amount you wish to borrow (in your currency).
- Enter the annual interest rate — the yearly interest rate in percent (e.g. 3.5).
- Enter the loan term — the repayment period in years (e.g. 25 for a 25-year mortgage).
- Click "Calculate" — instantly see your monthly EMI, total payment, total interest, and year-by-year amortization breakdown.
Frequently Asked Questions
What is EMI? ▼
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender each month over the loan period. Each EMI covers a portion of the principal balance and the interest accrued that month. Early payments are mostly interest; later payments are mostly principal.
How is EMI calculated? ▼
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total number of monthly payments (years × 12).
What is an amortization schedule? ▼
An amortization schedule shows, year by year, how much of each payment goes to principal versus interest, and what the remaining loan balance is. In early years, most of your payment is interest. By the end of the loan, you are mostly repaying principal.
How can I reduce my total interest payment? ▼
To reduce total interest: choose a shorter loan term, make a larger initial down payment, make extra principal payments, or refinance to a lower rate. Use this calculator to compare different scenarios.
Does the loan term affect my monthly payment? ▼
Yes. A longer loan term means lower monthly payments but significantly more total interest paid. A shorter term means higher monthly payments but much less total interest. Compare by changing the term value above.