Finance
EMI Calculator
Calculate the monthly EMI along with total interest, total paid, tenure, and the implied monthly rate for personal loans, auto loans, or mortgages.
Work out your equated monthly installment, the total interest owed, and the full repayment stack.
EMI formula
EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
P is the principal, r is the monthly interest rate (APR ÷ 12), and n is the total number of monthly payments.
How to use
- Enter the loan amount you plan to borrow.
- Provide the annual interest rate and the term in years.
- Review the EMI, tenure in months, interest paid, and total repayment.
Example
Input: Loan = $250,000, Rate = 7.2%/yr, Term = 5 years
Output: EMI ≈ $4,950, Total interest ≈ $47k, Total paid ≈ $297k
FAQ & notes
Does EMI stay constant for floating rates?
Only fixed rates guarantee a constant EMI. For floating loans, rerun the calculator whenever the lender adjusts the APR.
How do extra payments affect EMI?
Prepayments reduce principal and shorten the schedule, but the EMI itself stays the same unless the lender recalculates the loan.