Finance calculator

EMI Calculator - Loan Payment & Interest

Calculate EMI, monthly loan payments, total interest, and total repayment from principal, interest rate, and loan term.

FormulaMonthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

Formula

Loan payment formula

Loan results are estimates. Check lender fees, processing charges, rate resets, and official repayment schedules before making a decision.

Monthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

For a 500,000 loan at 8% annual interest for 5 years, use monthly rate r = 8 / 12 / 100 and n = 60 months.

FAQ6 common questions for this calculator.

FAQs

What is a monthly loan payment?+

It is the fixed monthly amount used to repay a loan over a selected term. In some markets this is also called EMI, or equated monthly instalment.

Does this EMI calculator store my loan details?+

No. The calculation runs in your browser and does not send inputs to a server.

How does the EMI Calculator calculate the result?+

For the EMI Calculator, it uses the Loan payment formula: Monthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). For a 500,000 loan at 8% annual interest for 5 years, use monthly rate r = 8 / 12 / 100 and n = 60 months.

What information do I need to use the EMI Calculator?+

Enter the loan amount, annual interest rate, and loan tenure in years and extra months. Choose the currency only for display; the payment formula uses the same money unit throughout.

How accurate is the EMI Calculator?+

The loan payment estimate is accurate for the principal, annual rate, and tenure entered into the amortization formula. It does not include lender fees, rate resets, insurance, penalties, or repayment schedule quirks unless you add those separately.

What should I check before using the EMI Calculator result?+

Check loan amount, annual rate, tenure, compounding/payment frequency, fees, rate reset terms, and currency. Compare the result with the lender's official amortization schedule before committing.

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Finance guide

How to use the EMI Calculator

Calculate EMI, monthly loan payments, total interest, and total repayment from principal, interest rate, and loan term. The page also explains the loan payment formula and shows a practical example: For a 500,000 loan at 8% annual interest for 5 years, use monthly rate r = 8 / 12 / 100 and n = 60 months.

  1. 1

    Enter your details

    Enter principal, interest rate, and loan term, then complete any other fields shown in the calculator.

  2. 2

    Check the calculation

    Review the result alongside the loan payment formula: Monthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1).

  3. 3

    Compare scenarios

    Change one or more inputs to see how they affect the EMI Calculator result before you use the estimate.