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EMI Calculator – Monthly Payment, Total Interest & Amortization (Free Online)

EMI Calculator – Monthly Payment, Total Interest & Amortization (Free Online)

Use this fast EMI Calculator to find your monthly payment, total interest, and total amount payable. Works for home loans, car loans, personal loans, and education loans. Choose tenure in years or months, set an optional down payment, and see a detailed amortization schedule. Everything runs in your browser—no data saved.

Calculate Your EMI

Tip: Use the down payment field below to auto-adjust
One-time fee added to total cost

What Is EMI (Equated Monthly Instalment)?

EMI is the fixed monthly amount you pay to the lender. Each payment covers two parts: interest on the outstanding balance and principal repayment. Over time, the interest part goes down and the principal part goes up.

How This EMI Calculator Works

  • EMI formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P = principal, r = monthly interest rate, n = number of months.
  • Total interest: (EMI × n) − P
  • Total payment: EMI × n
  • Processing fee: One-time amount added to total cost (optional).

Tips for Lower EMI

  • Increase the down payment to reduce the loan amount.
  • Choose a longer tenure to reduce EMI (but total interest may increase).
  • Compare interest rates from multiple lenders.
  • Make prepayments when possible to cut interest (not modeled here).

FAQ – EMI Calculator

Does this work for zero-interest loans?

Yes. If the interest rate is 0%, the EMI equals principal ÷ months.

Is currency supported?

Yes. Enter any currency values (₹, $, €, etc.). The calculator uses plain numbers and does not convert currencies.

Can I download the schedule?

Yes. Check “Show amortization schedule” after calculating, then click Download CSV.

Do you store my information?

No. All calculations happen in your browser and nothing is saved.

Conclusion

Use this free EMI Calculator to plan your loan smartly. Get instant monthly EMI, total interest, and a full amortization schedule—right in your browser.

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