Simple EMI Calculator – Calculate Your Monthly Loan Payments

Easily calculate your monthly EMI, total interest, and total loan payment with this simple EMI calculator. Enter your loan amount, tenure, and interest rate to get instant results along with a full EMI schedule and yearly breakdown.

EMI Calculator Guide

A loan EMI calculator is a handy financial tool that helps you plan your borrowings better. By knowing your equated monthly installment (EMI) in advance, you can budget your expenses, avoid defaults, and choose the right loan tenure.

What is an EMI?

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each EMI consists of two components:

  • Principal: The portion that goes towards repaying your loan amount
  • Interest: The portion that goes towards paying interest to the lender

Over the tenure, the principal component increases while the interest portion decreases — this is explained in an amortization schedule.

How the Simple EMI Calculator Works

This online EMI calculator helps you calculate:

  • Monthly EMI based on loan amount, interest rate, and tenure
  • Total interest payable over the loan tenure
  • Total payment (Principal + Interest)
  • Amortization schedule showing yearly/ monthly breakdown of payments

It eliminates manual calculations using the EMI formula and gives you instant, accurate results.

Inputs Explained

  • Loan Amount (₹): The principal amount borrowed.
  • Tenure (Years & Months): Duration of the loan repayment.
  • Interest Rate (% p.a.): Annual interest rate applied by the lender.
  • Start Date: Loan repayment start date (used to generate EMI schedule).

Outputs Explained

  • Monthly EMI: Fixed monthly repayment amount.
  • Total Interest Payable: Cumulative interest you will pay.
  • Total Payment: Total of principal + interest.
  • Amortization Schedule: Year-wise/ month-wise EMI breakup.

Example Calculation

Suppose you take a loan of ₹10,00,000 for 5 years at an interest rate of 10% per annum.

  • Your monthly EMI will be around ₹21,247
  • Total repayment will be ~₹12.74 lakh
  • Total interest payable will be ~₹2.74 lakh
  • The amortization schedule will show how interest reduces and principal increases over time

Why Use This EMI Calculator?

  • Instant results – No manual EMI formula calculations required
  • Free online tool – Available anytime, anywhere
  • Compare loan offers – See how different tenures or rates affect EMI
  • Financial planning – Budget your monthly cash flow better

Key Concepts in Loan Repayment

  • Reducing Balance Method: Interest is charged on the outstanding principal, so EMIs remain fixed but interest reduces over time.
  • Amortization Schedule: Shows how each EMI is split between principal and interest.
  • Prepayment & Foreclosure: Paying early reduces interest burden and shortens tenure.
  • Loan Tenure Impact: Longer tenure reduces EMI but increases overall interest.

Use this Simple EMI Calculator to plan your home loan, personal loan, or car loan EMIs, compare offers, and make smarter borrowing decisions.