Free online EMI calculator: calculate your monthly loan installment (Equated Monthly Installment) for home loans, car loans, personal loans, and education loans. Enter the loan amount, annual interest rate, and repayment tenure in years or months to instantly see your monthly EMI, total interest payable, and total repayment amount. Features amortization calculation. Perfect for comparing loan offers, planning your monthly budget, and understanding the true cost of borrowing. Mac OS 9 retro style interface. No signup required, works entirely in your browser.
Type in the total loan amount you wish to borrow. This is the principal amount for which you want to calculate the EMI.
Enter the annual interest rate and the loan tenure. You can switch between years and months using the dropdown menu.
Click Calculate to see your monthly EMI, total interest payable, and total payment amount over the full loan term.
Q: What is EMI?
A: EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
Q: How is EMI calculated?
A: EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
Q: Can I use this for any type of loan?
A: Yes, this EMI calculator works for all types of loans including home loans, car loans, personal loans, and education loans.