Calculate monthly EMI, total interest, and full amortization schedule for any loan — home, car, or personal. Instant results, no signup.
This loan EMI calculator works for any fixed-rate installment loan — personal loans, auto loans, student loans, and home loans. Enter three numbers and instantly see your monthly payment, total interest cost, and a full month-by-month amortization schedule. Use it to compare loan options before signing anything.
Type the principal — the total amount you are borrowing. For a car loan this is the vehicle price minus your down payment. For a personal loan it is the amount approved. For a mortgage, use our separate Mortgage Calculator which includes insurance and tax estimates.
Use the annual interest rate (not the monthly rate) as a percentage. For example, enter 7.5 for a 7.5% annual rate. If your lender quotes APR, use that figure — it reflects the true cost of borrowing including fees and is more accurate than the nominal rate alone.
Enter the repayment period in months: 12 months = 1 year, 36 = 3 years, 60 = 5 years, 120 = 10 years. Longer terms lower your monthly payment but significantly increase total interest paid. Try different terms to find the right balance for your budget.
Click "Show Amortization Schedule" to see a month-by-month breakdown. Early rows show payments mostly going toward interest with little principal reduction — this is normal for amortizing loans. Later rows reverse: more principal, less interest. The schedule shows your exact balance at every point during the loan.
A larger down payment reduces the principal you borrow. Less principal means less total interest across the life of the loan — often by a multiple of the extra down payment amount. Enter a lower loan amount in the calculator to see the impact immediately.
A 3-year term will have a higher monthly payment than a 5-year term, but you pay significantly less in total interest. Run both scenarios side-by-side to see the exact difference in total cost — often thousands of dollars.
Even a 1–2% rate reduction saves substantial money on large loans. Shop multiple lenders, check your credit score before applying, and use pre-approval offers to negotiate. Enter different rates in the calculator to see the exact saving.
Any payment above your monthly EMI directly reduces principal, which reduces future interest charges. Even small overpayments shorten the loan term noticeably. Check your loan agreement for prepayment penalties before doing this.
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each payment covers both the principal portion and the interest accrued for that month.
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P = principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = loan term in months. This tool calculates it instantly.
An amortization schedule shows every monthly payment broken into principal and interest portions, plus the remaining balance. Early payments are mostly interest; later payments are mostly principal — this tool shows the full breakdown.
Make a larger down payment to reduce principal, choose a shorter loan term, or negotiate a lower interest rate. Even small rate reductions significantly reduce total interest on large loans.
The interest rate is the base borrowing cost. APR (Annual Percentage Rate) includes the interest rate plus fees and charges. APR is the more complete cost figure — always compare APRs when shopping for loans.
Yes. Enter any loan amount, annual interest rate, and term in months. Works for mortgages, auto loans, personal loans, student loans, and any fixed-rate installment loan.
No. All calculations happen locally in your browser. Nothing is sent to any server.