EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans.
See total interest paid and payment breakdown.
Monthly EMI
EMI (Equated Monthly Installment) is the fixed payment you make each month to repay a loan. It includes both principal and interest.
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- P = Loan amount (principal)
- r = Monthly interest rate (annual rate / 12 / 100)
- n = Total number of monthly installments (tenure in months)
Total amount payable = EMI × n
Total interest = Total amount payable - Principal
Example: A loan of $500,000 at 8.5% for 20 years (240 months):
- Monthly EMI: $4,336
- Total interest paid: $540,718
- Total amount paid: $1,040,718
EMI remains constant throughout the loan tenure, but the proportion of principal vs interest changes — early payments are mostly interest, later payments are mostly principal.