EMI Calculator
Free EMI calculator to calculate your monthly loan EMI, total interest and amortization schedule instantly. For home, personal, car and business loans.
About the EMI Calculator
An EMI (Equated Monthly Instalment) is the fixed amount you pay every month towards a loan — part principal, part interest. Our EMI calculator shows your monthly EMI, the total interest you'll pay, and a full year-by-year breakup, instantly.
Adjust the loan amount, interest rate and tenure to see how each affects your EMI, then talk to us to get a better rate than the default.
How to use this calculator
- Enter the loan amount, interest rate and tenure using the sliders or input boxes.
- See your monthly EMI, total interest and total payable update live.
- Open the year-by-year breakup to see how your balance reduces over time.
Formula used
where P = loan amount, r = monthly interest rate, n = number of months
EMI Calculator — FAQs
EMI is calculated using the reducing-balance formula based on your loan amount, monthly interest rate and number of months. Our calculator does this instantly and also shows total interest.
Yes — a longer tenure lowers your monthly EMI but increases the total interest you pay over the life of the loan. Use the slider to find the right balance.
Yes, it's completely free with no sign-up. When you're ready, we'll help you get the best loan rate across 50+ lenders.
From numbers to a real plan.
You've seen the math. Now let a Consulting Cart expert in Mumbai help you act on it — free consultation.