Estimate equated monthly installments (EMI) for a loan. Enter amount, annual rate, and tenure in months or years. See EMI, total interest, total payment, a principal-vs-interest chart, a full amortization table, and optional monthly prepayment.
For a reducing-balance loan with monthly compounding, EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is monthly rate (annual%/12/100), and n is months.
If the annual rate is 0%, EMI is simply principal ÷ months.
Each month, interest accrues on the remaining balance; the rest of the EMI (plus optional prepayment) reduces principal until the balance clears.
EMI = P·r·(1+r)^n / ((1+r)^n − 1), r = annualRate/12/100
Borrow 100,000 at 10% annual for 12 months.
Monthly rate r = 0.10/12. EMI ≈ 8,791.59.
Total payment is a bit above 100,000; the difference is interest. Prepaying each month shortens the schedule and cuts interest.
The reducing-balance formula is common, but lenders may use different day counts, fees, or compounding. Treat results as estimates.
It adds an extra principal payment each month after the regular EMI, which usually shortens the loan and lowers total interest.
Yes. 2 years becomes 24 months internally; you can enter either unit.
The math is currency-agnostic. Formatting uses your selected code and the active locale’s number style.
No. Calculations run in your browser.
This tool provides estimates only and is not financial, medical, or legal advice.
The principal you plan to borrow.
Nominal annual percentage rate (APR-style).
Extra amount paid toward principal each month.
Monthly EMI
Paid over 60 months with the schedule below.
| EMI | $5,129.13 |
|---|---|
| Total interest | $57,747.99 |
| Total payment | $307,747.99 |
| Total prepayment | $0.00 |
| Months to clear | 60 |
EMI results are estimates for education only and are not financial advice. Lender fees, compounding conventions, and taxes may differ.