EMI / Loan Calculator

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Calculate monthly installments for mortgages, car loans, and personal loans.

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Loan Details

Loan Amount

Annual Interest Rate%

Loan Tenureyrs

yrs

Payment Breakdown

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Monthly EMI

$2,416.78

Total Interest

$280,027.10

Total Payment

$580,027.10

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How EMI is calculated

EMI (Equated Monthly Installment) is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is loan amount, r is monthly interest rate, and n is number of months.

Early in the loan, most of your EMI pays interest. Over time, a larger share reduces the principal — this is called an amortizing loan.