EMI Calculator — Free Home Loan EMI Calculator 2025
Use our free EMI Calculator to calculate your monthly loan repayment. Enter loan amount, interest rate, and tenure to get instant results with detailed breakdowns.".
Calculate your EMI
How the EMI is calculated
We use the standard reducing balance EMI formula. Enter loan amount, interest rate and tenure to view an exact monthly payment and amortization schedule.
EMI Formula
EMI = [P × r × (1+r)^n] / [(1+r)^n − 1] P = principal, r = monthly interest rate, n = number of months
What is an EMI?
EMI (Equated Monthly Instalment) is a fixed amount paid by the borrower every month towards loan repayment. It consists of both principal and interest. Using an EMI calculator helps you plan your finances better and avoid surprises.
How does this EMI Calculator work?
Our EMI calculator uses the standard formula:
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1] P = Principal Loan Amount r = Monthly Interest Rate n = Loan Tenure (in months)
Simply enter your loan amount, annual interest rate, and tenure. The calculator instantly shows your monthly EMI, total interest payable, and total repayment.
Why use our EMI Calculator?
- ✅ Instant and accurate EMI calculation
- ✅ Works for Home Loan, Car Loan, Personal Loan, Education Loan
- ✅ Provides year-wise chart and amortization schedule
- ✅ Helps you compare loan options easily
Frequently Asked Questions (FAQs)
1. What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed monthly amount you pay to the bank to repay your loan over the chosen tenure.
2. Does EMI remain the same every month?
Yes, EMI remains constant throughout the tenure in fixed interest loans. However, the principal and interest portions change every month.
3. Can I calculate EMI for different loan types?
Yes, this calculator can be used for Home Loans, Car Loans, Personal Loans, Education Loans, and other loan types.
4. Can I prepay or foreclose my loan?
Yes, most banks allow prepayment/foreclosure. However, some may charge a small penalty depending on their policy.
5. How accurate is this EMI Calculator?
This EMI Calculator is 100% accurate as per the reducing balance formula used by all major banks and financial institutions.