EMI Calculator — Free Online Tool

Plan your home, car or personal loan in seconds. See your monthly EMI, total interest and full repayment cost — instantly, right in your browser.

Live results as you type

No sign-up needed

100% private — stays in your browser

How it works

1Enter your loan details — amount, interest rate and tenure, using the sliders or by typing exact numbers.

2Watch results update live — your EMI, total interest and total payable recalculate instantly as you adjust.

3Compare loan options — the principal-vs-interest bar shows exactly where your money goes.

Frequently asked questions

How is the EMI calculated?

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. It uses the standard reducing-balance method, so interest is charged only on the outstanding principal.

Does this assume a fixed interest rate?

Yes. The calculator assumes a fixed rate for the entire tenure with monthly compounding. Floating-rate loans may differ from the estimate if the lender changes the rate later.

Should I choose a shorter or longer tenure?

A shorter tenure means a higher monthly EMI but much less total interest paid; a longer tenure lowers the EMI but increases the total interest. Use the split bar above to see the trade-off for your own numbers before deciding.

Reducing-balance method · Monthly compounding · 100% local — your numbers never leave this page.