EMI Calculator
Calculate your monthly loan EMI, total interest, and full repayment schedule — for home loans, car loans, and personal loans.
Monthly EMI
Total interest
Total payment
This runs entirely in your browser.
Repayment schedule
| Month | Opening balance | Principal | Interest | Closing balance |
|---|---|---|---|---|
What is the EMI Calculator?
This EMI calculator works out your monthly loan payment (EMI), total interest, and total repayment for a loan — using either the standard reducing-balance method (interest charged only on the outstanding balance, the way almost all bank loans work) or a flat-rate method (interest charged on the full original amount for the whole tenure). Use it to calculate EMI for a home loan, car loan, or personal loan before you apply, and compare how tenure or interest rate changes affect your monthly payment. For reducing-balance loans, it also builds the complete month-by-month repayment schedule.
How to use the EMI Calculator
-
1
Enter the loan amount, annual interest rate, and tenure (in months or years).
-
2
Choose Reducing balance (standard bank loans) or Flat rate as the calculation method.
-
3
Read the monthly EMI, total interest, and total payment instantly.
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4
Scroll the repayment schedule to see how much of each month's EMI goes to principal vs. interest.
Common questions
How do I calculate my home loan or car loan EMI?
Enter the loan amount, your bank's annual interest rate, and the tenure — the calculator shows your monthly EMI, total interest payable, and total repayment instantly using the standard reducing-balance method banks use.
What is the difference between reducing balance and flat rate EMI?
Reducing balance charges interest only on the amount still owed each month, so the interest portion shrinks over time — this is how almost all bank and NBFC loans work. Flat rate charges interest on the full original amount for the entire tenure, which usually works out more expensive.
Why does the repayment schedule only show for reducing balance?
A flat-rate loan charges the same interest amount every month regardless of the outstanding balance, so there is no varying principal/interest split to show month by month.
Does a longer tenure always mean a lower EMI?
Yes, a longer tenure lowers the monthly EMI — but it increases the total interest paid over the life of the loan, since interest keeps accruing on the outstanding balance for longer. Try a few tenures here to compare the trade-off.
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