EMI Calculator 2026 – Calculate Loan EMI, Interest & Monthly Payments Online
EMI Calculator
Calculate monthly loan EMI, total interest, repayment schedule and prepayment savings.
Loan details
Fees and extra payments
Recalculation uses the remaining planned months after each extra payment; actual lender rules may differ.
Monthly extra payments are applied after the scheduled EMI. Annual extra payments are applied after the EMI at the end of every 12th installment. A lump sum is applied after the EMI on the selected installment. Fees are shown separately and are not added to the principal.
Your repayment estimate
Principal vs interest
Balance over time
Illustrative points from the repayment schedule. The schedule below contains the exact installment details.
Amortization schedule
Interest is calculated monthly on the opening balance. The final payment is capped at the outstanding amount plus that month's interest; extra payments reduce principal after the scheduled EMI.
Schedule will appear here when calculations are valid.
Loan comparison
Compare up to three reducing-balance loans. Reference comparison uses Loan A. Fees are shown separately from repayment.
Reverse EMI calculator
Estimate the principal supported by an EMI. This is not a lender eligibility decision.
Monthly affordability check
A simple budgeting estimate, not an official loan eligibility check.
Tenure comparison
Same principal and rate, different tenures. Fees and prepayments are excluded from this comparison.
Annual repayment summary
What is an EMI calculator?
An EMI (Equated Monthly Instalment) calculator estimates the fixed monthly payment for a reducing-balance loan. It helps you understand the monthly commitment, total interest and expected repayment before comparing loan offers.
EMI formula
For a positive monthly interest rate, EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the principal, r is the annual interest rate divided by 1,200, and n is the number of monthly installments. At 0% interest, EMI = P ÷ n.
How to use this loan EMI calculator
- Enter the principal amount, annual interest rate and tenure.
- Review monthly EMI, total interest and total repayment.
- Open Advanced options to include fees or test extra payments.
- Inspect the amortization schedule and export the results if needed.
- Compare loan offers using their rates, tenures, fees and total cost—not EMI alone.
How tenure and interest affect repayment
A longer tenure usually lowers the monthly EMI but can increase total interest. A higher rate generally increases both EMI and total interest. Extra principal payments can reduce the balance on which future interest is charged, subject to the lender's terms and any applicable charges.
EMI, interest and fees are different
Scheduled repayment consists of principal and interest. Processing fees and other charges may be payable separately and are not automatically part of the EMI. This tool shows entered fees separately; it does not assume a lender's fee policy.
Frequently asked questions
1. How is EMI calculated?
EMI is calculated using the principal, monthly interest rate and number of monthly installments under the reducing-balance method.
2. Can I calculate EMI without an interest rate?
Enter 0% if the loan genuinely has no interest. For a zero-interest loan, the principal is divided by the number of installments.
3. What happens when the interest rate is zero?
The EMI equals principal divided by tenure in months. No interest is added in this estimate.
4. Does a longer tenure reduce EMI?
Generally, yes, but it may increase total interest paid over the life of the loan.
5. Does a longer tenure increase total interest?
At the same principal and rate, a longer tenure generally means more total interest because the balance remains outstanding for longer.
6. Are processing fees included in EMI?
No. Fees entered in Advanced options are shown separately and included only in the estimated total outflow.
7. How can prepayment reduce interest?
When an extra payment reduces principal earlier, later interest is calculated on a lower balance. Actual savings depend on lender rules and timing.
8. Can I compare two loans?
Yes. Enter each loan's amount, rate, tenure and fees in the comparison section. Compare total cost as well as EMI.
9. Can I download the repayment schedule?
Yes. Use Download schedule CSV to export the displayed loan's complete calculated schedule.
10. Is this calculator free?
Yes. The calculations run locally in your browser and do not require a paid API.
11. Does this calculator guarantee loan approval?
No. Lenders assess eligibility using their own criteria, documentation and policies.
12. Are my financial details sent to a server?
The calculator's calculations are performed locally in your browser. The calculator code itself does not transmit the entered financial values to a server.
Disclaimer: This calculator provides estimates for educational and planning purposes. Actual EMI, interest, fees, taxes, payment dates, and loan terms may differ according to the lender's rules and agreement. This tool does not guarantee loan approval or provide personalized financial advice. Processing fees and other charges may be separate from EMI. Prepayment conditions depend on the loan agreement. Results are estimates, not a lender's official offer.
