EMI Calculator – Calculate Loan EMI Online Free
Calculate your Equated Monthly Installment for home loans, car loans, personal loans. View amortization schedule and plan prepayments.
Calculate Your EMI
Enter loan details to calculate your monthly EMI, total interest, and payment breakdown
Calculate EMI First
Calculate your EMI to view the detailed amortization schedule
Calculate EMI First
Calculate your EMI to compare different loan options
Calculate EMI First
Calculate your EMI to plan prepayments and save interest
Ready to Calculate
Enter your loan details above to see your EMI and payment breakdown
Amortization Schedule
Year-by-year breakdown of principal and interest payments
Compare Loan Options
Compare different interest rates and loan terms
Prepayment Planner
Plan prepayments to reduce loan tenure and save interest
How to Use the EMI Calculator
Our EMI calculator is simple and intuitive to use. Follow these steps to calculate your loan EMI:
- Enter Loan Amount: Use the slider or input field to enter your desired loan amount.
- Set Interest Rate: Adjust the interest rate as per your loan agreement or current market rates.
- Choose Loan Tenure: Select the loan duration in years that suits your repayment capacity.
- Select Loan Type: Choose between Reducing Balance (common for most loans) or Flat Rate EMI calculation.
- Click Calculate: Press the "Calculate EMI" button to see your results instantly.
- View Detailed Breakdown: See your monthly EMI, total interest, payment breakdown, and amortization schedule.
Features of Our EMI Calculator
Our EMI calculator offers comprehensive features that make it stand out from other online tools:
- Accurate EMI Calculation: Uses standard EMI formula for precise reducing balance and flat rate calculations.
- Visual Payment Breakdown: Pie chart visualization shows principal vs. interest distribution.
- Amortization Schedule: Detailed year-by-year breakdown of payments and remaining balance.
- Loan Comparison: Compare different interest rates and loan terms side by side.
- Prepayment Planning: See how extra payments reduce tenure and save interest.
- Multiple Loan Types: Calculate EMI for home loans, car loans, personal loans, education loans.
- Mobile-Friendly Design: Works perfectly on all devices including smartphones and tablets.
- Privacy Focused: All calculations happen in your browser - no data is sent to our servers.
Frequently Asked Questions
EMI (Equated Monthly Installment) is the fixed amount you pay to the lender each month to repay your loan. It consists of both principal and interest components. EMI is calculated using the formula: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate, and n is the loan tenure in months.
In reducing balance method, interest is calculated on the outstanding principal balance, which decreases as you make payments. In flat rate method, interest is calculated on the original loan amount for the entire tenure. Reducing balance method results in lower total interest and is commonly used for most loans today.
You can calculate EMI online by entering your loan amount, interest rate, and loan period into this EMI calculator. The result is generated instantly and accurately.
A loan EMI calculator is used to estimate monthly EMI payments for different loans such as home loans, car loans, and personal loans before applying for them.
In a home loan EMI calculator, EMI is calculated using loan amount, interest rate, and tenure. It helps you understand monthly payments and plan your finances better.
Yes, this monthly EMI calculator for home loan allows you to easily calculate your monthly EMI and see how interest and tenure affect your repayment amount.
Yes, you can use this tool as an SBI bank home loan calculator to estimate EMI. However, the results are indicative and not officially linked to the State Bank of India.
No, all calculations happen locally in your browser. We don't collect, store, or transmit any personal data. Your privacy is completely protected.
An EMI calculation table shows a breakdown of monthly EMI payments, including principal and interest portions over the loan tenure.
Yes, this loan and EMI calculator is completely free to use. You can calculate EMI online anytime without registration or personal data sharing.
The three main factors affecting EMI are: 1) Loan Amount - Higher amount means higher EMI, 2) Interest Rate - Higher rate means higher EMI, 3) Loan Tenure - Longer tenure reduces EMI but increases total interest. Other factors include processing fees, prepayment penalties, and loan type (reducing vs flat rate).
Why Use Our EMI Calculator?
Our EMI calculator is more than just a simple payment calculator. It provides comprehensive insights into your loan repayment, interest savings, and financial planning. Whether you're planning to buy a home, car, or need a personal loan, our tool helps you make informed decisions by showing you the complete financial picture.
Unlike many other online calculators, our tool is completely free, requires no registration, and works entirely in your browser without sending any data to external servers. This ensures both privacy and reliability. Bookmark this page for quick EMI calculations anytime you need to plan your finances.