Enter your loan amount, interest rate, and tenure to instantly calculate your monthly EMI and total interest.
Before taking a loan, knowing your exact monthly payment helps you plan your budget and compare offers from different lenders. This calculator uses the standard reducing-balance EMI formula to give you an accurate monthly installment, total interest, and total repayment amount.
All calculations happen instantly in your browser — your loan details are never sent anywhere.
EMI is calculated using the formula: EMI = P × R × (1+R)^N / ((1+R)^N - 1), where P is the loan amount, R is the monthly interest rate, and N is the number of monthly installments.
Total payment is the sum of all your EMI installments over the full loan tenure, which equals the original loan amount plus total interest paid.
No. All calculations happen locally in your browser using JavaScript. Nothing is sent to or stored on a server.
Yes, this works for home loans, car loans, personal loans, or any loan with a fixed interest rate and monthly repayment schedule.