Loan & EMI Calculator

Work out a monthly instalment (EMI), total repayment and total interest for a loan, with the formula substituted. Try “EMI for a 100000 loan at 12% for 2 years”.

Try an example:

How the Loan & EMI Calculator works

  1. Convert the annual rate to monthly (12% ÷ 12 = 1% = 0.01) and years to months (24).
  2. EMI = P·r·(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1).
  3. Total repaid = EMI × n; interest = total repaid − P.

Frequently asked questions

What is EMI?

Equated Monthly Instalment: the fixed amount you pay each month that covers both interest and principal.

Does a longer term lower the EMI?

Yes, but you pay more total interest over the life of the loan.

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