Loan and EMI Calculator
| Year | Principal paid | Interest paid | Balance |
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Planning a loan is much easier when you know the monthly payment before you sign anything. This Loan and EMI Calculator helps you estimate your Equated Monthly Instalment, usually called EMI, for a home loan, car loan, personal loan, or education loan. You simply enter the amount you want to borrow, the annual interest rate, and the time you will take to repay it. The tool then shows your monthly EMI, the total interest you will pay, and the total amount you will repay over the full term.
The calculator also builds a simple year-wise amortisation summary. Amortisation means that each monthly payment is split into two parts: interest and principal. In the early years, a larger share of your payment goes towards interest. Later, more of it reduces the actual loan balance. The table shows, for each year, how much principal you paid, how much interest you paid, and how much balance remains. This makes it easy to see the real cost of borrowing and to compare offers from different lenders.
Try changing one value at a time. A slightly lower interest rate, a larger deposit, or a shorter tenure can save a surprising amount of interest. A longer tenure lowers the monthly EMI but usually increases the total interest, so the cheapest monthly option is not always the cheapest overall.
How to use
- Enter the total loan amount you plan to borrow.
- Type the annual interest rate in percent, for example 8.5.
- Enter the repayment time in years and any extra months.
- Click Calculate EMI to see your monthly payment and totals.
- Read the year-wise table to understand how your balance falls each year.
- Change the values and calculate again to compare different loan offers.
Frequently asked questions
How is EMI calculated?
The tool uses the standard reducing-balance formula. The monthly rate is the annual rate divided by 1200. If the interest rate is zero, the EMI is simply the loan amount divided by the number of months.
Is my data sent anywhere?
No. All processing is local in your browser. Your loan amount, rate, and tenure are never uploaded, saved, or shared, and the result appears instantly on this page.
Does this include fees or taxes?
No. The result covers principal and interest only. Lenders may add processing fees, insurance, or taxes, so always check the final loan agreement for the complete cost.
Can I use it for a mortgage?
Yes. A mortgage follows the same amortisation method, so this calculator works well for home loans as well as car, personal, and education loans.
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