Loan / EMI Calculator

Every loan — a mortgage, a car loan, a personal loan, an education loan — works on the same mathematical formula: the Equated Monthly Instalment (EMI) is determined by your principal, annual interest rate and repayment period. Knowing your EMI before you sign lets you compare offers, stress-test your budget and negotiate from an informed position rather than discovering the number at closing.

This calculator implements the standard reducing-balance amortisation formula used by banks worldwide: each month, interest is charged on the remaining principal, so early payments are mostly interest and later ones are mostly principal. The key output is the monthly payment — but equally important is the total interest, which tells you the real cost of borrowing. A longer tenure lowers the monthly payment but substantially increases the total interest paid; the interest breakdown shows this trade-off visually.

Works for any amount and any currency — eight major currencies are selectable, and the calculation is currency-agnostic. Use it for a home loan in pounds, a car loan in dollars, or a personal loan in rupees: the formula is identical. Results should be treated as accurate estimates — actual lender figures may vary by rounding method, processing fees and other charges.