Free Loan & EMI Calculator
Estimate your monthly loan payment, total interest and repayment schedule.
What is an EMI calculator?
An EMI (Equated Monthly Installment) calculator estimates the fixed monthly payment needed to repay a loan over a specified period. It helps users compare loan amounts, interest rates and repayment terms.
EMI calculation formula
\[ EMI=\frac{P\times r(1+r)^n}{(1+r)^n-1} \]
Where \(P\) is the loan principal, \(r\) is the monthly interest rate, and \(n\) is the total number of monthly payments.
Frequently asked questions
Can I calculate a loan with 0% interest?
Yes. The calculator divides the loan amount equally across the repayment months when the interest rate is zero.
Does the EMI include bank fees?
No. It estimates principal and interest only. Actual lender payments may include additional charges.