Loan & EMI Calculator
Enter your loan amount, interest rate and term to see your monthly EMI, total interest and a full repayment schedule — in your local currency.
Loan details
How the EMI is calculated
EMI (Equated Monthly Instalment) spreads a loan into equal payments. Each payment covers the interest due that period plus a portion of the principal. The standard formula is EMI = P · r · (1+r)n / ((1+r)n − 1), where P is the principal, r is the periodic interest rate, and n is the number of payments. Early payments are mostly interest; later ones are mostly principal — the schedule above shows exactly how the split shifts over time.
Tips for using this calculator
Try lowering the term to see how a shorter loan cuts total interest, or switch the payment frequency to bi-weekly to see the savings from paying more often. The currency follows the country you select in the top bar, so the figures always match your region.
Frequently asked questions
Does a higher down payment reduce my EMI?
Yes. A larger down payment lowers the principal, which reduces both your periodic payment and the total interest you pay over the life of the loan.
Is the interest rate here monthly or yearly?
Enter the annual (yearly) rate. The calculator converts it to the correct periodic rate based on your chosen payment frequency.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest portion shrinks and more of each payment goes to principal.