Calculate your monthly loan payment (EMI), total interest and see the full amortization schedule. Enter loan amount, interest rate and term to get started.
Enter loan amount, interest rate and term to see your payment.
EMI (Equated Monthly Installment) is the fixed amount you pay to a lender every month to repay a loan. It includes both principal and interest components, structured so that your loan is fully paid off by the end of the term.
The EMI formula is:
EMI = P × r × (1 + r)n / ((1 + r)n - 1)
Where:
An amortization schedule shows how each payment is split between principal and interest. In the early months, most of your payment goes toward interest. Over time, more goes toward the principal. This is why paying extra early in the loan term can save you significant interest.
If you borrow $10,000 at 6% annual interest for 5 years (60 months):
Monthly payment (EMI) = $193.33
Total paid = $11,599.80
Total interest = $1,599.80
All calculations happen instantly in your browser. Your loan details are never sent to any server and never stored. This tool is 100% private.
Interest rates vary by loan type, credit score and market conditions. As of 2025, personal loans typically range from 6% to 36%, mortgages from 3% to 8%, and auto loans from 4% to 12%. Your credit score is the biggest factor — higher scores get lower rates.
You can reduce your EMI by: (1) extending the loan term (though you'll pay more interest overall), (2) negotiating a lower interest rate, (3) making a larger down payment, or (4) improving your credit score before applying.
Extra payments go directly toward the principal, which reduces the total interest you'll pay and can shorten your loan term. Even small extra payments each month can save you thousands over the life of a mortgage.
Yes, EMI (Equated Monthly Installment) is the same as your monthly payment. It's a fixed amount that includes both principal and interest, calculated so the loan is fully paid by the end of the term.
This calculator shows the base EMI based on principal, interest rate and term. It doesn't include origination fees, insurance, property taxes or other charges that may be part of your actual payment. Check with your lender for the complete picture.
Yes! All calculations happen entirely in your browser. Your loan amount, interest rate and term are never sent to any server, never stored, and never shared. Your privacy is fully protected.