EMI Calculator Online


An EMI Calculator is a utility tool that helps you calculate the amount you repay monthly towards your loan. You can use the EMI calculator to calculate the EMI amount on a car, home, bike, or personal loan.

What is EMI (Equated Monthly Instalment)?

An Equated Monthly Instalment (EMI) is a fixed payment made by a borrower to a lender on a specified date of each month. EMIs are applied to monthly interest and principal to pay off the loan over a specified period. It is the monthly amount payable to the bank or any other financial institution until the loan will get paid.

Types Of EMI Calculators

There are many types of EMI Calculators that you can use to calculate your equated monthly instalments for car loans, home loans, and personal loans.

Home Loan EMI Calculator

The home loan emi calculator is one of the essential tools for a home buyer. It can show standard features associated with an emi, like tenure, monthly payment, and interest rate. Apart from this, a home loan emi calculator also provides the facility to include pre-payment towards the home loan payment. It is beneficial for the borrowers who have opted for pre-payment of emi.

Car Loan EMI calculator

The car loan emi calculator can calculate monthly payments you must pay in return to buy a car. This calculator will also tell you about your monthly emi payments, date of payments, and processing charges. The down payment for your car loan will not consider for calculating your emi.

Personal Loan EMI calculator

The personal loan emi calculator is the best tool for a borrower going for a personal loan from a bank. The personal loan emi calculator will also ask for information about your current organization, total work experience, and tenure to calculate your loan eligibility.

Loan against property EMI calculator

You can utilize your property to get funding for your needs. An emi calculator for loans against the property will take standard inputs like loan amount, rate of interest and loan tenure to calculate your monthly emi.

Education Loan EMI Calculator

The loan's EMI must repay with interest after a moratorium period. Enter the interest rate, loan amount and tenure in the Education Loan EMI Calculator.

Factors that can impact your due amount

Term of the loan (loan tenure)

A loan's tenure may get reduced or extended. Subsequently, there will also be an increase or a decrease in the EMI amount. Thus, considering the term of a loan is also an essential factor that may affect your due amount.

Rate of Interest

The interest rate is a vital factor that will help assess the instalment amount owed. You can compare the product and opt for a lower interest rate to keep your repayment quiet.

Amount of Loan (principal amount)

Choosing the loan amount is another significant factor in determining your EMI. Your equated monthly instalment will calculate based on your selected loan amount.

How can an online EMI calculator help us?

  • It helps you get an accurate estimate of your EMI amount to plan your finances accordingly. Ensure that your debt-to-income ratio is below 50% to maximize your chances of loan approval.
  • A loan EMI online calculator helps you save time. You do not have to do complex calculations manually, which can be time-consuming.
  • It eliminates any chance of a miscalculation, giving you an accurate estimate every time.
  • EMI Calculator is particular for each type of loan. For example, the EMI breakup of a home loan is different from that of a personal loan.

EMI Loan amount formula

The formula for calculating the EMI amount is below.

EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]

where the variables are

P: Principal amount

R: Rate of interest

N: Loan tenure.

It is the standard formula used by any online loan calculator. Some variables may add based on the type of loan.

How to use an online EMI (Equated Monthly Instalment) calculator?

The online EMI calculator is easy to use.

  • Insert the variable principal amount, loan tenure and rate of interest.
  • The calculated EMI value will display within seconds.

Advantages of using the EMI calculator

  • It is entirely free of charge. Anyone can use it anytime, as many times as they want.
  • The online loan calculator is 100% accurate every time.
  • It is fast and gives an accurate estimate instantly.


What sort of loans can I use the EMI calculator?

You can use this online EMI calculator for all types of loans, including personal, business, and car loans. All you need to know is the interest rate payable on the principal amount and the tenure

Are EMI calculators more accurate than excel calculators?

An excel calculator can also give you the right results if you know them well. You can use an EMI calculator to get the results quickly.

What will happen if I fail to pay my EMIs?

The financial company charge heavy penalties on unpaid EMIs (Equated Monthly Instalment). If you miss an EMI, you should pay extra in the future.

How is EMI on Loan Calculated?

Use the following formula.

EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]

the variables are,

P is the principal amount

R is the rate of interest

N is the loan tenure

What is the use of an EMI calculator?

An EMI Calculator is a utility tool that helps you calculate the amount you repay monthly towards your loan. You can use the EMI calculator to calculate the EMI amount on a car, home, bike, or personal loan.