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Loan EMI Calculator & Amortization Schedule

Calculate monthly EMI payments, total interest payable, principal ratio, and view complete year-by-year amortization schedules.

Free Online Loan EMI & Amortization Schedule Calculator

Calculate Equated Monthly Installments (EMI) for Home Loans, Car/Auto Loans, Personal Loans, and Business Mortgages. Inspect monthly and yearly principal vs interest amortization schedules, visual repayment breakdowns, and multi-currency options.

Enter loan details to estimate your EMI.

What is an Equated Monthly Installment (EMI)?

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a financial lender on a specific date of each calendar month. EMIs apply to both principal and interest payments until the debt is fully paid off.

How to use it

  1. Enter the Loan Principal Amount, annual Interest Rate (%), and Tenure in Years or Months.
  2. Review the Monthly EMI, Total Interest Payable, and total repayment amount.
  3. Inspect the Yearly / Monthly Amortization Schedule table to track principal reduction over time.
  4. Copy the loan summary or print the complete amortization schedule.

Frequently Asked Questions (FAQ)

How is EMI calculated mathematically?

The standard EMI formula is: EMI = P ร— r ร— (1 + r)^n / ((1 + r)^n - 1), where P is principal loan amount, r is monthly interest rate (Annual Rate / 12 / 100), and n is loan tenure in total months.

How do early prepayments affect total loan interest?

Making partial principal prepayments reduces the outstanding principal balance early in the tenure, significantly reducing total interest paid over the life of the loan.

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