EMI Calculator

How the EMI calculator works

Equated Monthly Installment (EMI) is the fixed amount you pay each month toward a loan. This tool splits that payment into principal and interest using the standard reducing-balance formula. All math runs in your browser. Nothing is sent to a server.

Enter the loan amount, annual interest rate, and tenure. Results update as you type, including monthly EMI, total interest, total payment, and an optional amortization schedule. For standard U.S. home loan payment, amount, or term calculations, use the mortgage calculator. To inspect year-by-year payoff summaries or model extra monthly principal payments, use the amortization calculator. If your home loan has a long fixed period before annual rate resets, the 10/1 ARM mortgage calculator models that adjustable-rate path. Before you commit to a payment, the 28/36 rule calculator checks whether that EMI fits common front-end and back-end DTI limits. To see how switching from monthly installments to an accelerated every-two-weeks schedule saves years of interest, try our biweekly mortgage calculator. If you hold multiple loans or a first mortgage alongside a HELOC, our blended rate calculator determines your combined weighted interest rate. To see how one-time lump sums or recurring extra principal payments shorten your loan tenure and save total interest, model your savings with our EMI prepayment calculator. To check how much principal you still owe after making regular payments over time, use the loan balance calculator. For Pag-IBIG Fund housing loans in the Philippines, including the 35% income affordability rule, use the Pag-IBIG housing loan calculator.

EMI formula

P is the principal, r is the monthly interest rate, and n is the number of months. If the interest rate is zero, EMI is principal divided by months:

If you need weekly, bi-weekly, semi-monthly, or monthly installments with the same amortizing formula, the payment calculator computes the periodic payment for each frequency. To solve for the rate or term instead of the payment, the advanced loan calculator uses the same amortizing formula with separate compounding and payment frequencies. When comparing financing offers that include upfront origination points or lender fees, the APR calculator determines your true annualized cost of credit, or use the personal loan calculator for unsecured installment loans with origination fees and term comparisons. For a quick three-field estimate with principal versus interest breakdown, the simple loan calculator covers fixed-rate loans with a term in years. For education debt with a term in years and a principal versus interest breakdown, use the student loan calculator. If you are shopping for a vehicle, compare loan payments with our auto loan calculator or explore depreciation and rent charges with our auto lease calculator. If your loan agreement includes a grace period or delayed repayment start, our deferred payment loan calculator models accrued interest capitalization and updated monthly installments. If your lender offers a payment pause with interest capitalization or tenure extension, the moratorium EMI calculator shows how the pause changes your monthly payment and total interest. If you are starting from a fixed monthly budget and want to determine how much total principal you can borrow, our loan affordability calculator solves for your maximum affordable loan amount.

Frequently asked questions