Loan & EMI Calculator

Calculate your monthly EMI (Equated Monthly Installment), total interest paid, and total repayment amount for any loan. View a full month-by-month amortization schedule. Free, instant, and private.

How to Use the Loan & EMI Calculator

  1. Enter the loan amount in dollars, the annual interest rate as a percentage, and the loan term in months.
  2. Click "Calculate EMI" to see your monthly payment, total interest paid, and total repayment amount.
  3. Scroll through the amortization table to see the principal and interest breakdown for every month of the loan.

Features

Loan & EMI Calculator: practical uses

Use Loan & EMI Calculator when you need a fast, clear, private result without creating an account. This page also supports related needs like Loan & EMI Calculator online, Loan & EMI Calculator formula, Loan & EMI Calculator example so you can choose the right workflow.

When it helps

For the next step, try Percentage Calculator, Discount Calculator, Tip Calculator, BMI Calculator.

Frequently Asked Questions

What is EMI and how is it calculated? +
EMI (Equated Monthly Installment) is a fixed monthly payment made to repay a loan over a set period. It is calculated using the formula: 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 enter the loan term? +
Enter the loan term in months. For example, a 5-year loan is 60 months, a 10-year loan is 120 months, and a 30-year mortgage is 360 months.
What does the amortization schedule show? +
The amortization table breaks down each monthly payment into its principal component (reducing the loan balance) and interest component (the cost of borrowing). It also shows the remaining balance after each payment.
Can I use this for a mortgage calculation? +
Yes. Enter the mortgage amount, annual interest rate, and term in months. For a 30-year fixed mortgage at 7%, you would enter 360 months as the term. Note that this calculator does not include property taxes, insurance, or PMI.
Does the calculator account for extra payments? +
The current version calculates standard fixed-payment amortization and does not model extra or irregular payments. Each month's EMI is identical. For scenarios with extra payments, you would need to adjust the principal and recalculate.

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