What is EMI / loan calculator?
EMI calculator works out the equated monthly instalment for any loan with the standard formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months. It also shows how much of what you pay is interest and how your balance falls over time.
When to use it
- Compare home loan offers from different banks.
- Decide between a 3-year and 5-year car loan.
- Check if a personal loan EMI fits your budget.
- Plan prepayments by seeing the balance each year.
Tips for the best result
- A longer tenure lowers EMI but raises total interest.
- Even 0.5% lower interest saves a lot on long loans.
- Download the CSV to plan in a spreadsheet.
Limits and privacy
Assumes a fixed rate and monthly reducing balance. Processing fees and insurance are not included. Processing happens entirely in your browser, so your data never leaves your device and there is nothing to sign up for. Files are processed in your browser and never uploaded.
Related tasks
Many people who use EMI / loan calculator also need Percentage calculator or Age calculator, and Unit converter is one click away. Every MondayKit tool works the same way – open the page, add your input, get the result – with no account, no watermark and no upload.