Loan EMI Calculator Free
Calculate loan EMI with amortization schedule.
Files never uploadedInstant results100% freeWorks on mobile
How to Use
- 1Enter the loan amount, annual interest rate, and loan tenure.
- 2Choose between months or years for the tenure unit.
- 3Click Calculate to see your monthly EMI, total interest, and a first-year amortization summary.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender on a specified date each month, covering both principal and interest.
How is EMI calculated?
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate, and n is the total number of monthly installments.
Can I prepay my loan?
Most loans allow prepayment, which reduces the outstanding principal and saves on interest. This calculator shows the standard amortization schedule without prepayment.
Related Tools
User Reviews & Feedback
Real-time comments from our global community of users.
5.0out of 5
0 reviews submitted
Share your experience
No signup needed. Your feedback runs client-side and updates instantly.