InstantToolsPro
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InstantToolsPro
Calculate your loan EMI instantly. Get month-by-month amortization, total interest payable, and full payment breakdown — free, no signup.
Enter loan details and click
Calculate EMI to see results
Type your loan amount or drag the slider. Ranges from ₹10K to ₹1 Crore.
Enter the annual interest rate. Typically 7%–15% for most bank loans.
Select months or years. Toggle between both. Up to 30 years / 360 months.
Instant EMI, total interest, full payment breakdown, and amortization table.
An EMI (Equated Monthly Instalment) calculator helps you determine the fixed monthly amount you pay to repay a loan over a chosen tenure. It uses the standard amortization formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the principal, R is the monthly interest rate, and N is the number of instalments.
For a ₹10,00,000 loan at 8.5% p.a. for 5 years (60 months): Monthly rate R = 8.5/12/100 = 0.00708. EMI = [10,00,000 × 0.00708 × (1.00708)^60] / [(1.00708)^60 – 1] ≈ ₹20,516. Total payment = ₹12,30,972. Total interest = ₹2,30,972.
This calculator works for home loans, car loans, personal loans, education loans, and any fixed-rate loan product. Simply enter the loan amount, applicable interest rate, and repayment period in months or years.