What is it?
The Loan EMI Calculator works out the monthly instalment (EMI) for a home, car, personal or education loan, with total interest and a year-by-year table.
Who is it for?
Anyone taking or comparing a home, car, personal, education or business loan, and existing borrowers checking whether a bank’s EMI is right.
How to use it
Enter the Loan amount, the yearly Interest rate and the Tenure, and choose whether the tenure is in Years or Months. The answer appears as you type; there is no Calculate button. Pick your Currency at the top if asked, then tap Copy result or Share on WhatsApp.
Reading the result
- Monthly EMI: the fixed amount you pay each month.
- Total interest and Total payment: what the loan really costs.
- The table shows how much of each year’s EMIs pays Interest and how much reduces the Principal. In the first years most of the EMI is interest; it reverses near the end.
Why the bank’s EMI is slightly different
- Banks may count interest from the disbursement date, so the first EMI is different (pre-EMI or broken-period interest).
- Floating-rate loans change when the bank’s rate (repo-linked rate or MCLR) changes. Banks usually change the tenure, not the EMI.
- Processing fees, insurance and GST are not in the EMI.
Lowering the cost
A shorter tenure means a higher EMI but much less interest. Prepaying even small amounts early saves a lot: try the Home Loan Prepayment Calculator.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the monthly rate and n the number of months.
Errors and how to fix them
- “Enter the loan amount (more than 0)” or “Enter the tenure”: fill in both.
- EMI looks far too high: tenure is in months but Years is selected (or the other way).
Open the tool: Loan EMI Calculator
Still stuck?
Contact support. Tell us which tool or page you were using, what you tapped, what you saw, and your phone or computer and browser (for example: Android phone, Chrome). We reply by email.
Questions, or an error not listed here?
Tell us in the comments: what you were doing, the exact message you saw, and your device and browser. We read every comment and add new fixes to this article.