💰 Loan / EMI Calculator
Calculate your monthly payment, total interest, and view a detailed amortization schedule. All calculations run in your browser.
What Is an EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment made to repay a loan. Each EMI payment includes both principal repayment and interest. The formula is:
EMI = P × r × (1 + r)n / ((1 + r)n - 1)
Where P = principal, r = monthly interest rate, n = number of monthly payments.
How to Use This Tool
- Enter the loan amount (principal).
- Enter the annual interest rate as a percentage.
- Enter the loan term in years.
- Optionally set a start date to see monthly payment dates.
- Click Calculate to see your EMI, total interest, and amortization schedule.
Why Use This Tool?
- Calculate loan payments for mortgages, car loans, personal loans, and more.
- View a full amortization schedule showing principal vs. interest breakdown.
- Compare different loan terms and rates to find the best deal.
- 100% client-side — your financial data never leaves your browser.
Frequently Asked Questions
What types of loans can I calculate?
This calculator works for any fixed-rate loan: mortgages, car loans, personal loans, student loans, and business loans.
How accurate is this calculator?
This uses the standard amortization formula used by banks. Actual payments may vary slightly due to rounding, fees, insurance, or variable rates.
What is an amortization schedule?
An amortization schedule shows each monthly payment broken down into principal and interest, plus the remaining loan balance after each payment.