EMI Calculator
Calculate your monthly loan EMI, total interest and total payable in seconds.
Updated June 2026
How to use the EMI Calculator
- 1
Enter your loan details
Type in the loan amount, the annual interest rate and the tenure in years.
- 2
Read your monthly EMI
Your monthly EMI, total interest and total payable update instantly above the inputs.
- 3
Adjust and compare
Change the rate, amount or tenure to compare loan offers and find a comfortable repayment.
About this tool
An EMI calculator works out the Equated Monthly Installment — the fixed amount you repay every month on a loan until it is fully cleared. Enter the loan amount, the annual interest rate and the tenure, and this calculator instantly shows your monthly EMI along with the total interest and the total amount payable over the life of the loan.
The EMI is derived from a standard formula: each month you pay interest on the outstanding balance plus a slice of the principal, sized so that the same amount comes out every month. Early payments are mostly interest and later payments are mostly principal, but the monthly figure stays constant. A higher rate or a longer tenure raises the total interest you pay, even when it lowers the monthly outgo.
Use it to plan home loans, car loans, personal loans and education loans, or to compare offers before you sign. Adjust the inputs to see how a bigger down payment, a better rate or a shorter tenure changes your repayment. Everything is calculated in your browser — no loan details are uploaded, logged or stored anywhere.
Examples
Input
$100,000 loan at 8%/yr for 5 years
Output
EMI $2,028/mo · total interest $21,658 · total payable $121,658
Input
$300,000 home loan at 6%/yr for 30 years
Output
EMI $1,799/mo · total interest $347,515 · total payable $647,515
A long 30-year tenure keeps the monthly EMI low but the total interest exceeds the original loan amount.
Input
$20,000 car loan at 10%/yr for 3 years
Output
EMI $645/mo · total interest $3,232 · total payable $23,232
Common uses
- Working out the monthly payment on a home loan before signing the offer
- Comparing a 5-year vs 7-year car loan to see the EMI and total interest tradeoff
- Checking how a bigger down payment lowers your personal loan EMI
- Estimating monthly repayments on an education loan while budgeting
- Deciding whether a shorter tenure at a higher EMI saves enough interest to be worth it
- Comparing two lender offers with different interest rates on the same loan amount
Frequently asked questions
Is this EMI calculator free?+
Yes. It is completely free to use with no sign-up, no limits and no hidden charges.
What is EMI?+
EMI stands for Equated Monthly Installment — the fixed amount you pay your lender each month, covering both interest and principal, until the loan is fully repaid.
How is EMI calculated?+
EMI uses the formula P · r · (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months. If the rate is 0, the EMI is simply the loan amount divided by the number of months.
Does changing the tenure change the total interest?+
Yes. A longer tenure lowers your monthly EMI but increases the total interest you pay, because you owe a balance for longer. A shorter tenure raises the EMI but cuts the total interest.
Is my loan data private?+
Yes. Every calculation runs locally in your browser. Your loan amount, rate and tenure are never sent to a server, logged or stored.
Learn more
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Embed this tool
Free to use on your own site — it stays fast and private for your visitors.
Paste this where you want the tool to appear:
<iframe src="https://hypercho.com/embed/emi-calculator" title="EMI Calculator by Hypercho" width="100%" height="560" style="border:1px solid #d8cec3;border-radius:16px;max-width:720px" loading="lazy"></iframe>
<p style="font:13px sans-serif"><a href="https://hypercho.com/tools/emi-calculator" target="_blank" rel="noopener">EMI Calculator</a> by <a href="https://hypercho.com" target="_blank" rel="noopener">Hypercho</a></p>