Loan EMI Calculator

Calculate your monthly loan payments (EMI), total interest, and view amortization schedule for home loans, car loans, and personal loans.

Loan Amount

$1,000 $100,000 $1,000,000

Interest Rate (% per annum)

0.1% 5.0% 30%

Loan Term

1 Year 20 Years 30 Years

Loan Start Date

Loan EMI Results

Monthly EMI

Loan Summary

Principal Amount: $0

Total Interest: $0

Total Amount (Principal + Interest): $0

Loan Term: 0 years (0 months)

Year	Principal Paid	Interest Paid	Total Payment	Balance

Month	Payment Date	Principal	Interest	EMI	Balance

About Loan EMI Calculation

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

EMI Formula

The mathematical formula to calculate EMI is:

EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ - 1]

Where:

P = Principal loan amount
r = Monthly interest rate (annual interest rate ÷ 12 ÷ 100)
n = Loan term in months

Types of Loans

Home Loans: Used to purchase residential property, typically with longer terms (15-30 years) and lower interest rates.
Car Loans: Used to purchase vehicles, typically with shorter terms (3-7 years) and moderate interest rates.
Personal Loans: General-purpose loans, typically with shorter terms (1-5 years) and higher interest rates.
Education Loans: Used to finance education, often with deferred payment options and moderate interest rates.

Factors Affecting EMI

Loan Amount: Higher loan amounts result in higher EMIs.
Interest Rate: Higher interest rates increase the EMI amount.
Loan Term: Longer loan terms reduce the EMI amount but increase the total interest paid.
Repayment Schedule: Monthly, quarterly, or annual repayment options affect the EMI calculation.

Note

This calculator provides an estimate based on the information you provide. Actual loan terms, interest rates, and fees may vary based on lender policies, your credit score, and other factors. Always consult with a financial advisor or lender for personalized advice.