Free EMI Calculator Online
Calculate the Equated Monthly Installment for any loan: home, car, or personal. See the principal vs interest split and year-by-year amortization schedule.
Principal vs Interest breakdown
Year-by-year amortization
EMI calculated over 240 monthly installments. Actual bank EMI may vary slightly due to processing fees, daily compounding, or different calculation bases.
Try this example
You\'re considering a 30-lakh home loan at 8.5% for 20 years and want to know the monthly EMI plus total interest you\'ll pay.
- 1Enter 3000000 as the loan amount, 8.5 as the annual rate, and 20 as the tenure.
- 2Pick ₹ as the currency.
- 3See the monthly EMI, total interest, and the principal vs interest visual bar.
- 4Click Show schedule to see how the principal balance drops year by year.
How to Use
- 01Enter loan amount, annual interest rate, and tenure in years.
- 02See monthly EMI, total interest, and total payment instantly.
- 03Click Show schedule to see how much principal and interest you pay each year.
FAQ
What formula is used?▼
The standard EMI formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is principal, r is monthly interest rate, and n is total months.
What is amortization?▼
It shows how each EMI is split between principal and interest over time. Early in the loan most of each payment is interest. Later more goes to principal.
Does this include processing fees or taxes?▼
No. The math shows only principal and interest. Banks may add processing fees, insurance, or GST on top.