🧮
Loan / EMI Calculator
Calculate monthly EMI, total payment and total interest for any loan — home, car, personal or business.
About EMI Calculation
EMI (Equated Monthly Instalment) is the fixed monthly payment that
repays both the principal and interest over the loan term. Use this
calculator for home loans, car loans, personal loans, or any
amortising loan.
Monthly EMI
The fixed amount you pay each month.
Total Payment
Principal + interest over the entire loan term.
Total Interest
The interest paid above the original principal.
Formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
How to Use This Converter
- Enter the value you want to convert.
- Choose the From unit.
- Choose the To unit.
- Click Convert to see the result instantly.
Frequently Asked Questions
What is EMI?+
EMI = Equated Monthly Instalment. It's a fixed monthly payment covering both principal and interest over the loan term.
Does a longer loan tenure reduce EMI?+
Yes — a longer tenure lowers the monthly EMI but increases the total interest paid over the loan.
How is EMI calculated?+
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal, r = monthly interest rate (annual / 12 / 100), n = number of months.
What is a good EMI-to-income ratio?+
Lenders typically prefer total EMIs to be under 40% of your monthly income.
Is this calculator free?+
Yes — completely free with no registration required.
We’d Love Your Feedback! 🌟
