EMI Calculator
EMI Calculator works out the monthly instalment for a loan, including the total interest you will pay, free and in your browser. You enter the loan amount, the interest rate, and the time period, and the result updates as you type.
Last updated: 30 October 2026 · Free · No signup
EMI stands for Equated Monthly Instalment: the fixed amount you pay each month for a loan, which covers both the amount borrowed and the interest on it. Early payments go mostly towards interest, and later payments go mostly towards the borrowed amount, even though the monthly amount stays the same. Knowing the EMI and the total interest before you borrow helps you judge whether the monthly payment fits your budget, and how much the loan will actually cost in total.
Enter the interest rate as an annual rate, and check whether the period is in months or years, because mixing those up is the most common EMI mistake. This tool is for planning and comparison; the exact instalment from a lender may differ slightly due to fees, charges, and how the lender rounds its calculations.
Privacy: this tool runs entirely in your browser — no upload, no signup, and your files never leave your device.
Do the maths before taking a loan — the monthly instalment (EMI), the total interest and the total amount you will pay, all worked out in advance.
How to use EMI Calculator
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the period, in months or years as the tool asks.
- Read the monthly EMI and the total interest.
Key facts
| Inputs | Loan amount, annual interest rate, and period |
|---|---|
| Results | Monthly EMI, total payment, and total interest |
| Note | For planning; a lender's exact figure may differ slightly |
Frequently asked questions
What is EMI?
EMI is the fixed monthly payment for a loan, covering both the borrowed amount and the interest on it. The amount stays the same each month, even though the split between interest and principal changes over time, with more going to interest early on.
How is EMI calculated?
It uses the loan amount, the monthly interest rate, and the number of monthly payments, in a standard formula that spreads the total cost evenly across the loan. This tool applies that formula, so you do not need to work it out by hand.
Why is total interest so high on a long loan?
Because interest is charged on the amount still owed, and a longer loan keeps that amount higher for longer. Extending a loan lowers the monthly payment, but it usually raises the total interest you pay over the whole loan.
Are my loan details uploaded or saved?
No. Calculation happens in your browser only. Nothing is sent to a server and nothing is saved after you close the page.