💰 Loan Calculator

Calculate EMI, total interest, and view complete amortization schedule for your loans.

Quick Loan Examples

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (Years)

Loan Term (Months)

Payment Frequency

About Loan Calculator

What is EMI?

EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. It includes both principal and interest components.

How is EMI calculated?

EMI is calculated using the formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is the principal amount, r is the monthly interest rate, and n is the total number of payments.

Amortization Schedule

An amortization schedule shows how each payment is split between principal and interest, and how the remaining balance decreases over time.