Calculate your monthly EMI, total interest and full amortization schedule. Supports all major world currencies.
Free Online Loan & EMI Calculator
Our free loan and EMI calculator helps you instantly work out your monthly instalment (EMI), total amount payable and total interest for any loan — home loans, car loans, personal loans, education loans and more. Simply enter your loan amount, interest rate and tenure to see a complete breakdown.
The calculator also generates a full amortization schedule showing exactly how much of each monthly payment goes towards principal and how much goes towards interest — month by month, for the entire loan tenure. You can view it monthly or yearly, and download it as a CSV file.
💱 30+ Currencies
Supports USD, INR, EUR, GBP, AED and 25+ more world currencies.
📋 Amortization Table
Full month-by-month schedule showing principal vs interest split.
📊 Visual Breakdown
Donut chart shows principal vs total interest at a glance.
⬇ Download CSV
Export the full amortization schedule as a spreadsheet.
How to Calculate Your Loan EMI
1
Select your currency
Pick from 20 major currencies including INR, USD, EUR, GBP, AED and more.
2
Enter loan amount
Type the total loan amount you wish to borrow. Use the currency symbol matching your selection.
3
Enter interest rate and tenure
Enter the annual interest rate (e.g. 8.5%) and loan tenure in months or years. Use the sliders for quick adjustment.
4
View results
See your monthly EMI, total payable amount, total interest and full amortization schedule instantly.
EMI Formula
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = number of monthly instalments.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay to your lender every month on a set date until the loan is fully repaid. Each EMI payment covers both a portion of the principal amount and the interest charged for that month. In the early months, a larger share goes towards interest; over time, more goes towards principal.
How can I reduce my EMI?
You can reduce your EMI in three ways: (1) Borrow a smaller principal amount by making a larger down payment; (2) Negotiate a lower interest rate — even 0.5% less makes a significant difference on a long-term loan; (3) Extend the loan tenure — a longer tenure means smaller EMIs, though you'll pay more total interest. Use this calculator to compare different scenarios before deciding.
What is an amortization schedule?
An amortization schedule is a complete table showing every payment over the life of your loan. For each period it shows the EMI amount, how much goes to principal repayment, how much goes to interest, and the remaining loan balance. It helps you understand exactly how your loan balance reduces over time and how much total interest you're paying.
Does this calculator account for processing fees?
No — this calculator shows the pure EMI based on interest rate and principal only. Most lenders also charge a one-time processing fee (typically 0.5–2% of loan amount) which isn't included here. Add that separately when comparing the true cost of a loan.
Is this calculator accurate for home loans in India?
Yes — the formula used is the standard reducing balance method used by all major Indian banks and NBFCs (HDFC, SBI, ICICI, Axis etc.) for home loans, car loans and personal loans. The results match what your bank would calculate. Always verify with your actual bank statement once a loan is issued.