EMI / Loan Calculator

An EMI (Equated Monthly Installment) calculator works out the fixed monthly amount you'll pay on any loan — personal, auto, education, or mortgage — given the principal, interest rate, and tenure. Each EMI is the same in size, but its composition shifts over time: in the early months most of it covers interest, and only a small slice reduces principal; by the end, almost all of it pays down principal. The calculator also surfaces the total interest you'll pay across the life of the loan and the full amortization schedule, so you can see exactly how much borrowing actually costs.

Enter the loan amount you want to borrow, the annual interest rate quoted by your lender, and the tenure in months or years. The EMI updates instantly. Try adjusting the interest rate by half a percent, or shortening the tenure by a year or two, to see how dramatically the total interest changes. If you're considering making extra payments, use the optional extra-payment field to estimate how much sooner you'll be debt-free and how much interest you'll save. Use the share button to send a specific scenario to a co-signer or financial advisor without re-entering the numbers.

The headline EMI is the most important number for budgeting — it's what leaves your account every month. But the total interest figure is what tells you whether the loan is a good deal. On a $20,000 personal loan at 12% over 5 years, you'll pay roughly $26,700 in total — over $6,700 of pure interest. Compare two offers by total cost paid, not just the EMI: a lower monthly payment often hides a longer tenure and more interest. The amortization schedule shows the principal-vs-interest split month by month, which is essential if you're planning to refinance or pay off early.