Loan & EMI Calculator

Calculate your monthly loan payment (EMI), total interest and payoff schedule in seconds.

Loan amount ($)

Annual interest rate (%)

Term (years)

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How EMI is calculated

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r monthly rate, n number of payments. Early payments are mostly interest; principal share grows over time.

Frequently Asked Questions

What is EMI?

Equated Monthly Installment — the fixed amount you pay each month toward a loan.

Does extra payment reduce interest?

Yes. Paying more than the EMI shortens the term and cuts total interest significantly.

Is this an exact quote?

It's an estimate. Lenders add fees and may compound differently — always confirm with your bank.