Loan EMI Calculator — Fixed-Rate Monthly Payment Estimate
Estimate a fixed monthly instalment, total interest, total payment, and annual principal-interest schedule from loan inputs.
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How to use it
Enter the loan amount, annual interest rate, and tenure to see the EMI and a yearly breakdown.
Good to know
Assumes a fixed rate and equal monthly payments. Fees and insurance are not included.
Calculate a fixed-rate repayment example
Enter principal, annual rate, and tenure. For 500,000 at 9.5% over 5 years, the tool estimates a monthly EMI of 10,500.93, total interest of 130,055.84, and total payment of 630,055.84. Each month’s interest is calculated from the remaining balance.
Compare it with the lender’s schedule
This assumes a fixed annual rate converted to a monthly rate and equal monthly payments. It does not include processing fees, insurance, prepayments, payment-date rules, rate changes, taxes, rounding at each instalment, or lender-specific terms. Treat the table as a planning estimate and verify the actual amortization schedule with the lender before committing to a loan. The CFPB explanation of amortization describes how principal and interest payments change over a loan term.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months.
Does this work for home, car, and personal loans?
Yes, for any fixed-rate loan repaid in equal monthly instalments.
How can I lower my EMI?
Choose a longer tenure, a lower rate, or a smaller loan. A longer tenure lowers EMI but increases total interest.