EMI Calculator
Calculate your equated monthly instalment and interest breakdown instantly.
Loan details
5 years
Monthly EMI
$2,124.70
for 5 years
- Principal$100,000
- Total interest$27,482
- Principal
- $100,000
- Total interest
- $27,482
- Total payable
- $127,482
- Interest as % of principal
- 27%
Amortization schedule
Early instalments are mostly interest; principal grows over time.
Yearly schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $16,227 | $9,270 | $83,773 |
| 2 | $17,926 | $7,570 | $65,847 |
| 3 | $19,803 | $5,693 | $46,044 |
| 4 | $21,877 | $3,620 | $24,167 |
| 5 | $24,167 | $1,329 | $0 |
About the EMI Calculator
EMI stands for Equated Monthly Instalment — the fixed amount you pay your lender every month until a loan is fully repaid. Each EMI covers part of the interest and part of the principal, with the split shifting toward principal over time. This calculator works out your EMI from the loan amount, interest rate and tenure, and shows the total interest and total amount payable.
Three numbers decide your EMI: the principal, the annual interest rate, and the tenure in months. A longer tenure lowers each month's EMI but increases the total interest you pay; a shorter tenure does the opposite. The amortization schedule shows exactly how your balance falls year by year.
This is the same math used for home, car, personal and business loans — only the terminology differs.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly payment that repays a loan over its tenure. It combines interest on the outstanding balance with a portion of the principal, calculated so the loan clears exactly at the end of the term.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. This calculator does the math for you instantly.
Does a longer tenure reduce my EMI?
Yes — a longer tenure spreads the principal over more months, lowering each EMI. But because interest accrues for longer, you pay more in total. Pick the shortest tenure whose EMI fits your budget.
What's the difference between EMI and a loan calculator?
None mathematically — both use the same amortization formula. “EMI” is the common term in many countries for a loan instalment, and this tool lets you set the tenure directly in months.
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