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Loan EMI Calculator
Work out your monthly loan payment (EMI), the total interest you will pay and the full cost of borrowing — with a complete repayment schedule.
Your loan
Move the sliders or type the numbers — results update instantly.
years
extra months
Your repayment
Based on the details on the left.
Monthly payment (EMI)
—
Total interest
—
the cost of borrowing
Total repayment
—
amount + all interest
Where your money goes
Principal (what you borrowed) vs interest (what the loan costs).
—is interest
- Principal —
- Interest —
Repayment by year
How much principal and interest you pay each year, and what is still owed at the end of it. Early on, most of each payment is interest; later, most is principal.
| Year | Principal paid | Interest paid | Total paid | Balance left |
|---|
How the EMI is worked out
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month. Lenders calculate it with this formula:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- P = the loan amount (principal)
- r = the monthly interest rate — the annual rate divided by 1,200
- n = the number of monthly payments
If the interest rate is 0%, there is nothing to calculate: the EMI is simply the loan amount divided by the number of months.
A longer term means a smaller monthly payment but more total interest, because you are borrowing for longer. A shorter term costs more each month but makes the loan cheaper overall — try moving the term slider above and watch the total interest change.
Please note: this calculator gives an estimate only. It does not include arrangement fees, insurance, early-repayment charges or any other lender costs, and your actual figures may differ — always check the lender's own illustration before you borrow.