EMI Calculator


EMI Calculator helps to calculate the monthly installment payments for Personal Loan, Home Loan, Car Loan, Housing Loan with interactive charts.

Loan EMI Calculator (Personal, Home & Car)

EMI Calculator - Calculate Your Loan EMI (Personal, Home, Car)

What Is EMI?

Equated Monthly Installment-EMI in short-is the amount payable to the bank or some other financial institution per month before the balance of the loan is full pays out. It consists of the interest on the loan, as well as part of the repayable principal sum. The sum of the principal amount and interest divides by the tenure in which the loan has to be repaid, i.e., number of months.

This sum is payable monthly. During the initial months, the interest component of the EMI would be greater and gradually decreased with each payment. The exact amount allocated for principal payment is based on the interest rate. Even if your monthly EMI payment will not change, the percentage of principal and interest components will change over time. You’ll pay more to the principal with each successive payment, and less interest.

Formula For EMI Loan

We uses a common method for determining an EMI number for a loan.

EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)], where –

  • P is the principal amount
  • R is the rate of interest
  • N is the loan tenure

This is the standard formulation that any online loan EMI Calculator uses. Some variables may introduce according to the loan form.

How To Use EMI Calculator

Our EMI Calculator is easy to use, intuitive to understand, and is quick to perform with colorful charts and instant results. Using this calculator, you can calculate EMI for a personal loan, car loan, home loan, or any other fully amortizing loan.

In the EMI Calculator enter the following information:

  • The principal loan amount you wish to use
  • Loan term (months or years)
  • Rate of interest (percentage)

For instance, using the slider to change values in the shape of an EMI calculator. You can type the values directly in the related boxes given above if you need to enter more specific values. EMI calculator will re-calculate your monthly payment (EMI) amount as soon as the values are changed using the slider (or hit the ‘tab’ key after entering the values directly into the input fields).

Also shown is a pie chart showing the break-up of the overall payment (i.e., overall principal vs. total interest due). In the cumulative total of all contributions made against the loan, it shows the ratio of gross interest against the principal amount. The payment schedule table showing payments made for the entire duration of the loan each month/year displays along with a chart showing interest and principal components paid each year.

A portion of each payment is for the interest, while the remainder applies to the principal balance. A significant portion of each payment is an earmark for interest during the initial loan period. Larger sections pay the principal off with the passage of time. The payment plan also indicates the remaining intermediate balance for each year that will be converted into the next year.