Loan / EMI Calculator

A loan EMI calculator tells you the single most important number before you borrow: the fixed amount you will pay every month. Enter the loan amount, the annual interest rate, and the term, and this free calculator returns your Equated Monthly Installment (EMI) along with the total interest you will pay over the life of the loan and a full month-by-month amortization breakdown. The EMI itself is computed with the standard formula EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal, r is the monthly interest rate (the annual rate divided by 12 and by 100), and n is the number of monthly payments. What makes the amortization view useful is that it shows how each payment splits between interest and principal. Because interest is charged on the remaining balance, your early payments are mostly interest and your later payments are mostly principal, even though the monthly total never changes. Seeing this split helps you understand why paying a little extra early, or choosing a shorter term, can save a large amount of interest overall. Use the calculator to compare scenarios side by side: a 15-year versus a 20-year mortgage, a slightly lower rate, or a larger down payment. Note that the result is the pure principal-and-interest payment and does not include lender processing fees, insurance, or taxes, which vary by provider. All math runs locally in your browser, so the amounts you enter stay on your device and are never sent anywhere.