About Loan & EMI Calculator
This free loan EMI calculator helps you calculate your monthly EMI (equated monthly installment), total interest paid over the loan term, and the total repayment amount for any loan. Enter the principal amount, annual interest rate, and loan tenure in months or years, and get your complete repayment picture instantly.
EMI is the fixed amount you pay each month to repay a loan by the end of its term. It covers both principal repayment and interest. In the early months, a larger share of each payment goes toward interest; as the loan progresses, more of each payment goes toward the principal. This is called an amortizing loan, and the calculator shows the full amortization schedule so you can see exactly how the balance changes month by month.
The EMI formula is: EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1], where P is the principal, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the number of monthly payments. The calculator handles the formula for you - just enter your numbers.
Use this calculator when evaluating business loans, equipment financing, vehicle loans, or personal loans. Comparing two loan offers is easy: run both through the calculator and compare the monthly EMI and total interest cost. A lower interest rate does not always mean lower total cost if the term is significantly longer.
For business financing decisions, the key question is whether the monthly EMI fits within your cash flow. Use the Cash Flow Calculator on this site to see how adding a loan EMI affects your monthly financial position.