Free Online Loan EMI Calculator with Amortization Schedule
Calculate your Equated Monthly Installment (EMI) for any loan by entering the loan amount, interest rate, and tenure. See a detailed breakdown of total interest payable, total payment amount, and a month-by-month amortization schedule showing how much of each payment goes toward principal vs. interest. Features a visual pie chart comparing total principal and interest. Supports home loans, car loans, personal loans, and education loans.
Monthly EMI
₹21,247
Common questions
What is the EMI calculation formula?
EMI = [P × r × (1+r)^n] / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate (annual rate / 12 / 100), and n is the total number of monthly installments.
Does a longer tenure reduce EMI?
Yes, a longer tenure reduces the monthly EMI amount but increases the total interest paid over the loan's lifetime. For example, a ₹10L loan at 10% for 10 years has an EMI of ₹13,215, but for 20 years it's ₹9,650 — while total interest doubles.