EveryTool

EMI Calculator

See your monthly payment for a home, car or personal loan, and how much of it is interest.

Loan details

Loan amount Currency

Interest rate (% per year)

Loan period In

Your EMI

Monthly payment–

Principal: –
Total interest: –
Total payment: –

Year-by-year breakdown

Year	Principal paid	Interest paid	Balance left

How EMI is calculated

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of monthly payments. Early EMIs are mostly interest; later ones are mostly principal. This is an estimate. Your bank's figure may differ slightly because of fees and rounding.