EMI Calculator

The Loan EMI Calculator is a smart online tool that helps you instantly calculate your Monthly EMI based on the entered Loan Amount, Interest Rate, and Loan Tenure in years. This tool simplifies financial planning by giving a clear idea of your monthly repayment commitment before you take a loan.

With this EMI Calculator, you not only get the Monthly EMI, but also a complete breakdown of the Total Principal Amount, Total Interest, and Total Amount Payable over the loan period. It’s perfect for individuals, developers, and businesses looking for a fast and accurate way to plan and manage loan repayments.

Loan Summary

  • Monthly EMI
  • Principal Amount
  • Total Interest
  • Total Amount Payable

How EMI, Interest & Total Payable are Calculated

The EMI (Equated Monthly Installment) is calculated using the formula: 

EMI = [P × R × (1 + R)N] / [(1 + R)N - 1]

Where:

  • P = Principal loan amount
  • R = Monthly interest rate = (Annual rate ÷ 12 ÷ 100)
  • N = Loan tenure in months

Once the EMI is calculated, you can easily compute the following:

  • Total Amount Payable = EMI × Number of Months (N)
  • Total Interest = Total Amount Payable − Principal (P)

For example, a ₹5,00,000 loan at 10% annual interest for 5 years will have a monthly EMI of ₹10,623. Over 60 months, the Total Amount Payable will be ₹6,37,408, and the Total Interest will be ₹1,37,408.