EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It includes both principal and interest. The formula is: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months.

🏦

🏦 Loans · 2026

Loan EMI Calculator

Calculate your monthly EMI for any loan — home loan, car loan, or personal loan. See total interest, total payment, and a full year-by-year amortization schedule.

🏦 Loan EMI Calculator

Loan Details

Loan Amount ($)

Home loan, car, personal loan

Annual Interest Rate

Home loan avg: 6–7.5% (2026)

Loan Tenure (years)

Down Payment ($)

Reduces principal borrowed

Optional

Processing Fee ($)

Annual Insurance ($)

Monthly Tax / Other ($)

Monthly EMI

—

per month

Total Interest

—

over loan life

Total Payment

—

principal + interest

📋 Summary

Loan amount—

Rate / Tenure—

Monthly EMI—

Total interest—

Total payment—

🔢 EMI Formula

EMI = P × r × (1+r)^n
/ ((1+r)^n − 1)

P = Principal
r = Monthly rate
n = Number of months

🔗 Related

🏠 Home Affordability 🎯 Savings Goal 🏡 15 vs 30 Mortgage

Loan EMI Calculator — Calculate Monthly Payments for Any Loan

EMI (Equated Monthly Installment) is the fixed monthly amount you pay to repay a loan in equal installments over a set period. Our calculator works for any loan type — home loan, car loan, personal loan, or education loan. Enter the principal, interest rate, and tenure to instantly see your monthly payment, total interest, and a full amortization schedule.

How is EMI calculated?

The EMI formula is: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months. For a $300,000 loan at 6.5% for 30 years: monthly rate = 0.00542, months = 360, EMI = $1,896.

Frequently Asked Questions

What is EMI?+

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each EMI has two components: an interest portion and a principal portion. In the early months, most of the EMI goes toward interest. Over time, the principal portion grows as the outstanding balance decreases.

How is loan EMI calculated?+

EMI = P × r × (1+r)^n / ((1+r)^n − 1). P = Principal, r = monthly interest rate (APR ÷ 12 ÷ 100), n = total months. For example, a $300,000 loan at 6.5% for 30 years: r = 0.005417, n = 360, EMI ≈ $1,896/month.

How can I reduce my EMI?+

You can reduce EMI by: (1) increasing loan tenure — spreads payments over more months, (2) making a larger down payment — reduces the principal, (3) negotiating a lower interest rate, or (4) refinancing when rates drop. A larger down payment also means less total interest paid.

What is an amortization schedule?+

An amortization schedule shows how each EMI payment is split between interest and principal month by month. In the first few years, most of the EMI covers interest. Gradually, as the balance falls, the interest portion shrinks and the principal portion grows. The table above shows this year by year.

Loan EMI Calculator

Loan EMI Calculator — Calculate Monthly Payments for Any Loan

How is EMI calculated?

Frequently Asked Questions

Start Investing with Zerodha — India's #1 Broker