Loan EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan.
Monthly EMI
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Total Interest
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Total Payment
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Principal
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EMI Formula
EMI = P × r × (1+r)^n / [(1+r)^n - 1]
Where: P = Principal, r = Monthly interest rate, n = Number of months
Common Loan Terms
| Loan Type | Typical Term | Rate Range |
|---|---|---|
| Home Loan | 15-30 years | 5-8% |
| Car Loan | 3-7 years | 4-10% |
| Personal Loan | 1-5 years | 8-20% |
| Student Loan | 10-25 years | 4-12% |
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment made by a borrower to a lender at a specified date each month. It includes both principal and interest components.
Should I choose a shorter or longer loan term?
Shorter terms mean higher monthly payments but less total interest. Longer terms mean lower monthly payments but more total interest paid. Choose based on your monthly budget and long-term financial goals.