EMI Calculator
Loans & DebtCalculate your Equated Monthly Installment (EMI) and full repayment schedule for any loan.
Changing the display currency only changes the symbol shown — amounts aren't converted, since this tool doesn't use live exchange rates.
Monthly payment
$0
Total paid: $0
Total interest: $0
Amortization schedule
| # | Payment | Principal | Interest | Balance |
|---|
How this is calculated
Uses the standard fixed-rate amortization formula M = P·r(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Each payment is split into interest (balance × monthly rate) and principal (the rest), and the balance declines every month until it reaches zero at the final payment. EMI (Equated Monthly Installment) is the same fixed monthly payment used internationally, most commonly in India and other South/Southeast Asian markets.
Frequently asked questions
- Is EMI the same as a monthly loan payment?
- Yes — EMI is simply the term used for a fixed monthly loan installment, most common in India and similar markets. The math is identical to any other fixed-rate loan payment.
- Does the EMI stay the same for the whole loan term?
- Yes, for a fixed-rate loan the EMI amount never changes — only the split between interest and principal within each payment shifts over time.
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