Compute monthly EMI, total interest, and repayment from principal, rate, and term. Fully client-side — no account, uploads, or remote storage.
Added Apr 18, 2026 · Updated May 1, 2026
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Enter a value for loan amount to see your result.
Calculates the fixed monthly payment (EMI) for a loan given the principal, annual rate, and term in years, using the standard amortization formula.
EMI = P · r / (1 − (1 + r)^(−n))
A $20,000 loan at 7% annual interest over 5 years costs about $396 per month, and you pay roughly $3,761 in total interest.
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At 0% interest, you simply repay the principal evenly over 24 months.
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This calculator uses the standard reducing-balance EMI formula used by banks worldwide:
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
Where P is the principal, r is the monthly interest rate (annual ÷ 1200), and n is the total number of months.
When the interest rate is 0%, the formula is undefined (division by zero). The calculator automatically handles this edge case using the simplified formula: EMI = P ÷ n.
A longer tenure reduces your EMI but increases the total interest paid. Use this calculator to find the right balance for your budget.
EMI stands for Equated Monthly Installment — the fixed amount you pay each month until a loan is fully repaid, covering both principal and interest.
No. This calculator reflects only principal and interest. Actual payments may include property taxes, insurance, or origination fees.
At 0% interest, the monthly payment is simply the loan amount divided by the number of months. No interest is charged.
This calculator models standard fixed EMI on a monthly reducing balance. Some products recalculate interest daily or let you prepay flexibly; your statement can differ slightly from a textbook EMI schedule.
Enter the current annual rate to see today's payment. For variable loans, the bank will reprice the rate on its schedule, so your EMI or tenure may change unless you fix the term and adjust payment.