Loan EMI Calculator

Calculate the monthly installment, total interest and full payment schedule of a car, home or personal loan.

How is the interest charged?
Monthly installment (, )
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Total interest / markup
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Total payment
Loan amount Interest
MonthInstallmentPrincipalInterestBalance

This is an estimate. Banks may add processing fees, insurance, taxes or other charges that are not included here, so always check your offer letter.

About this tool

This loan EMI calculator shows how much you will pay every month on a car loan, home loan, personal loan or any other instalment loan. Enter the loan amount, the yearly interest rate and the loan term, and it gives you the monthly installment, the total interest and the total amount you will repay.

It works with two common ways of charging interest. Reducing balance is the standard EMI method, where interest is charged each month on the amount you still owe. Flat rate charges the markup on the full loan amount for the whole term, which is how many car financing and Islamic financing offers are quoted. Choose the one that matches your offer letter.

You can also open the month-by-month payment schedule, which shows how much of every installment goes to the loan and how much to interest, and download it as a CSV file. The calculation runs in your browser and nothing you enter is sent to our servers or saved.

How to use

  1. Enter the loan amount and pick your currency.
  2. Enter the interest rate per year and the loan term in years or months.
  3. Choose Reducing balance for a standard EMI, or Flat rate if your offer states a markup on the full amount.
  4. Read the monthly installment, total interest and total payment. The result updates as you type.
  5. Click Show payment schedule to see every month, or Download CSV to save it.

Frequently asked questions

EMI stands for equated monthly installment. It is the fixed amount you pay every month until the loan is cleared, made up of a part that repays the loan and a part that pays the interest.

With reducing balance, interest is charged each month only on the amount you still owe, so the interest part gets smaller over time. With a flat rate, the markup is worked out on the full loan amount for the whole term and split equally across all months, so the total cost is usually higher than a reducing balance loan at the same stated rate.

Use the type your offer letter describes. If it quotes a markup or flat rate for the whole period, choose Flat rate. If it describes interest on the outstanding balance or a standard EMI, choose Reducing balance. If you are unsure, ask the bank which method it uses.

No. The calculator only works out the installment from the amount, rate and term. Banks may add processing fees, insurance, taxes or other charges, so always compare the result with your offer letter.

In a reducing balance loan the balance is highest at the start, so a larger share of each early installment goes to interest. As the balance falls, more of every installment repays the loan.

Choose a shorter term, make a larger down payment or borrow less. If your lender allows early repayment, paying extra also lowers the interest. Check the lender's rules and any prepayment charges first.

Yes. It works for any loan that is repaid in equal monthly installments.

No. The calculation happens in your browser and nothing you enter is sent to our servers or stored.

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