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Home Calculators EMI / Loan Calculator
All toolsMonthly loan payment, total interest and a year-by-year repayment breakdown.
| Year | Principal paid | Interest paid | Balance left |
|---|
The EMI Calculator shows the monthly payment on a loan — a home loan, car loan or personal loan — from the amount, annual interest rate and tenure you enter. It also totals the interest you will pay over the whole loan and breaks the repayment down year by year, so you can see how much of each year goes to interest versus the loan itself.
EMI stands for Equated Monthly Instalment — the fixed amount you pay the lender every month until the loan is cleared. Each payment covers part interest and part of the borrowed amount.
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 payments.
It lowers the monthly payment but raises the total cost, because you pay interest for more months. Compare the Total interest figure between two tenures to see the real difference.