Core Calculators

EMI Calculator

Calculate monthly EMI, total interest, and full repayment schedule

Loan details

₹
%
yrs

Monthly EMI

₹0

How EMI is calculated

EMI is the fixed amount you pay every month until the loan is cleared. Banks and lenders in India, and most lenders in the USA, Canada and Europe, use a reducing-balance method: interest is charged on what you still owe, so early EMIs are heavier on interest and later ones pay more principal.

Enter the loan amount, annual rate and tenure. The tool shows monthly EMI, total interest and total repayment so you can compare offers before you sign.

EMI = P × r × (1+r)n / ((1+r)n − 1)
P = principal  •  r = monthly rate  •  n = number of months

How to use this calculator

  1. Enter the loan amount you plan to borrow (home, car, personal or any term loan).
  2. Add the annual interest rate your bank or lender quoted, not a monthly figure.
  3. Set the tenure in years. Check EMI, total interest and total payment, then try a shorter or longer tenure to see the trade-off.

Worked example

Example: a ₹25,00,000 home loan at 8.5% for 20 years works out to about ₹21,700 EMI per month, with total interest far higher than a 15-year plan would charge.

If you think in dollars or euros, use the same fields with your currency amounts. The formula does not change - only the numbers you type do.

When this helps

Use this when you are shortlisting loan offers, checking whether a property EMI fits your salary, or comparing a 15-year vs 20-year tenure.

What this does not cover

Processing fees, insurance, floating rate resets and part-prepayments are not included. Treat the result as a planning estimate and confirm with your lender.

Related guide

Read How to calculate EMI before you take a loan. Step-by-step EMI planning with a worked example, then come back here to run your numbers.

Why use it

Detailed features

Bank-standard

Reducing-balance EMI formula.

Full schedule

Monthly and yearly breakdown tables.

Export reports

Download PDF or CSV with Toolance branding.

On the go

Also in the Toolance app.

Frequently asked questions

EMI is the fixed amount you pay every month until the loan is cleared. Each EMI has a principal part and an interest part. The bank uses your loan amount, rate and tenure to fix this number.
Banks use the reducing balance method. Interest is charged on the outstanding principal, so the interest portion drops over time while principal goes up. Our tool follows the same standard formula lenders use.
Yes. After you enter loan details, use Export PDF or Export CSV to download the full yearly and monthly breakdown. PDF reports include Toolance branding and www.toolance.com on every page.
Yes, spreading the loan over more years brings down the monthly EMI. You usually pay more total interest over the full tenure, so check both EMI and total cost before you decide.
Use the annual rate quoted by your bank or NBFC, not the monthly figure. If you have a processing fee or insurance bundled in, that is separate from the EMI math shown here.
Yes. Enter any loan amount, rate and tenure and you get monthly EMI, total interest and total repayment. The formula works the same for home, personal, vehicle and other term loans.
No. This shows the schedule if you pay only the regular EMI. If you plan part prepayment or foreclosure, your actual interest will be lower than what you see here.
No. This is an estimate for planning only. Your lender may round amounts differently, add fees, or change rates on floating loans. Talk to your bank before you sign the loan agreement.