Calculate your monthly loan installment with full payment breakdown
| Year | Principal Paid | Interest Paid | Balance Left |
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An EMI (Equated Monthly Installment) is a fixed monthly payment made by a borrower to repay a loan. Our EMI calculator gives you an instant breakdown of your monthly payment, total interest, and a full yearly amortization table — so you know exactly where your money goes.
EMI stands for Equated Monthly Installment — a fixed payment made every month to repay your loan. It is calculated using the 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 monthly installments.
Yes. A higher down payment reduces the principal loan amount, which directly reduces your monthly EMI and the total interest you pay over the loan tenure.
Prepaying your loan reduces the outstanding principal, which can either lower your EMI or shorten your loan tenure. Most lenders offer both options when you make a lump sum prepayment.
Yes, 100% free. No signup or registration required. You can use it as many times as you need.
| Loan | Amount | Rate | Term | EMI |
|---|---|---|---|---|
| Home Loan | $300,000 | 6.8% | 30yr | $1,957/mo |
| Car Loan | $35,000 | 7.5% | 5yr | $700/mo |
| Personal Loan | $10,000 | 15% | 3yr | $347/mo |
| Student Loan | $50,000 | 5.5% | 10yr | $542/mo |
EMI (Equated Monthly Installment) is the fixed monthly payment on a loan. It includes both principal repayment and interest, calculated using the formula: EMI = [P × r × (1+r)^n] ÷ [(1+r)^n − 1].
Higher interest rate = higher EMI. On a $200,000 loan for 20 years: at 6% EMI = $1,433, at 8% EMI = $1,673, at 10% EMI = $1,930.
Yes — by increasing loan tenure (reduces EMI but increases total interest), making a larger down payment, or improving your credit score to get a lower interest rate.
Related: Loan Calculator · How to Calculate EMI