Loan EMI Calculator
See your monthly EMI, total interest and a full amortization schedule — drag the sliders and watch the principal-vs-interest split update in real time. Works for home, car, personal and business loans.
Principal vs interest
Yearly payment split
Amortization schedule
How the EMI is calculated
An Equated Monthly Installment (EMI) is the fixed amount you pay your lender each month until a loan is fully repaid. Each payment covers the interest due that month plus a slice of the principal, so the loan is amortized — paid down gradually — over its tenure. The standard formula is:
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
Here P is the principal (amount borrowed), r is the monthly interest rate (the annual rate ÷ 12 ÷ 100), and n is the tenure in months (years × 12). For example, a $20,000 loan at 7.5% for 10 years has r = 0.00625 and n = 120, giving an EMI of about $237.
Why the amortization schedule matters
The EMI stays constant, but its make-up shifts every month. Early on, most of each payment is interest because the outstanding balance is large; as the balance falls, more of each payment attacks the principal. The schedule above lays this out month by month (or year by year), showing interest paid, principal repaid and the declining balance — the clearest way to see what a loan really costs.
Tenure, interest and prepayment
Stretching the tenure lowers your monthly EMI but raises the total interest, since you owe the balance for longer — drag the tenure slider to see the trade-off instantly. A prepayment works the opposite way: it reduces the principal directly, cutting the interest on every remaining month. Because interest is front-loaded, prepaying early in the loan saves far more than the same amount paid near the end.
Using this tool
Set your loan amount, rate and tenure with the sliders or by typing exact figures, pick your currency, and read off the EMI, total interest and total payable. The breakdown chart shows how much of your total outlay is interest, and the yearly chart shows how the interest portion shrinks over time. Everything is computed in your browser, so your numbers never leave your device.
Frequently asked questions
How is EMI calculated?
With the amortization formula EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is principal, r is the monthly rate (annual ÷ 12 ÷ 100) and n is months. The payment is fixed; the interest/principal split changes each month.
What is an amortization schedule?
A month-by-month (or year-by-year) list showing how much of each EMI is interest, how much reduces principal, and the balance remaining — exactly what the table above displays.
Does a longer tenure reduce my EMI?
Yes — spreading the principal over more months lowers the EMI, but you pay more total interest. A shorter tenure costs more per month but far less overall. Drag the tenure slider to compare.
What happens if I make a prepayment?
It reduces your principal, cutting interest on every future month. Prepaying early — when the balance is largest — saves disproportionately more total interest.
Is my loan data sent anywhere?
No. Everything runs in your browser; the figures you enter are never sent to a server or stored.