Loan EMI Calculator
Calculate monthly EMI, total interest, total payment and view the amortization schedule instantly.
| Month | EMI | Interest | Principal | Balance |
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Loan EMI Calculator – Calculate EMI Online Instantly
Loan EMI Calculator is a free online tool that helps you calculate your monthly EMI, total interest, and repayment schedule within seconds. Whether you are planning a personal loan, home loan, education loan, or car loan, this calculator gives you a clear financial roadmap. By using our Loan EMI Calculator, you can avoid manual calculations and plan your finances better.
What is a Loan EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards repayment of a loan. It includes both principal and interest. Our Loan EMI Calculator shows you how much EMI you need to pay based on your loan amount, tenure, and interest rate.
How to Use Loan EMI Calculator?
- Enter Loan Amount (₹)
- Enter Interest Rate (%)
- Enter Loan Tenure (in months or years)
- (Optional) Add any monthly prepayment amount
- Click on “Calculate EMI”
Within seconds, the tool will display:
- Monthly EMI
- Total Interest Payable
- Total Payment (Principal + Interest)
- Amortization Schedule
Formula Used in EMI Calculator
The formula used to calculate EMI is:
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1]
Where:
- P = Loan amount
- r = Rate of interest per month (annual rate / 12 / 100)
- n = Loan tenure in months
Why Use Our Loan EMI Calculator?
✔ Instant results – no manual calculation
✔ Simple & user-friendly design
✔ Works on all devices (mobile, desktop, tablet)
✔ Generates detailed amortization schedule
✔ Helps in financial planning
Practical Examples of Loan EMI
- Home Loan: ₹50,00,000 loan, 8% interest, 20 years → EMI ~ ₹41,822/month
- Car Loan: ₹5,00,000 loan, 9% interest, 5 years → EMI ~ ₹10,377/month
- Education Loan: ₹10,00,000 loan, 11% interest, 10 years → EMI ~ ₹13,774/month
FAQs – Loan EMI Calculator
Q1: Can I calculate EMI without using a calculator?
Yes, but manual calculation using the EMI formula is time-consuming. Our Loan EMI Calculator gives results instantly.
Q2: Does EMI change if I prepay the loan?
Yes. Prepayment reduces the outstanding principal, which lowers the EMI or shortens the tenure.
Q3: Can I use this tool for different types of loans?
Absolutely. This EMI Calculator works for personal loans, home loans, car loans, gold loans, and education loans.
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For more details about loan policies, visit RBI Official Website.