How to Use the EMI Calculator
- Enter your Loan Amount (the principal you wish to borrow).
- Enter the Annual Interest Rate provided by your bank or lender.
- Enter the Loan Term in years (e.g., 5 for a 5-year loan).
- Your Monthly EMI, Total Interest, and Total Payment are calculated and displayed in real time.
- Click Show Amortization Schedule to see every monthly payment broken down, or Download Schedule (CSV) to export it.
EMI Formula
Where P = Principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total months.
Frequently Asked Questions
What is EMI and how is it calculated?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender each calendar month on a set date. The formula is: EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P is the principal, r is the monthly interest rate, and n is the number of months.
How do I reduce my EMI amount?
You can reduce your EMI by (1) increasing the loan tenure, (2) negotiating a lower interest rate, (3) making a larger down payment to reduce the principal, or (4) making part-prepayments during the loan term to decrease the outstanding balance.
What is an amortization schedule?
An amortization schedule is a complete table of periodic loan payments, showing the portion of each payment that goes toward principal vs interest, and the remaining balance after each payment. Click 'Show Amortization Schedule' in this tool to see yours month-by-month.
Can I download the amortization schedule?
Yes — click 'Download Schedule (CSV)' to export the full month-by-month payment table as a CSV file, which you can open in Microsoft Excel, Google Sheets, or any spreadsheet application.
Key Benefits
- Real-time calculation — no submit button needed
- Full amortization schedule (month-by-month)
- Visual principal vs interest payment split bar
- Download schedule as CSV for Excel/Google Sheets
- Works for home loans, car loans, personal loans
- 100% private — runs entirely in your browser