Loan & EMI Calculator
Calculate monthly loan payments, equated monthly installments (EMI), interest totals, and amortization schedules.
About our Loan & EMI Calculator
Free online EMI calculator, loan calculator online, home loan emi calculator, personal loan emi calculator, car loan emi calculator. Calculate monthly interest payments, track total reducing balance vs flat interest, and view month-by-month principal amortization schedules instantly.
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Frequently Asked Questions
What is an EMI?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
What is the difference between reducing and flat interest rates?
A reducing balance rate calculates interest only on the remaining outstanding principal, whereas a flat rate calculates interest on the full original loan amount for the entire duration.
What is an amortization schedule?
An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off.
Is the EMI fixed for the whole loan tenure?
For fixed-rate loans the EMI stays the same, though the principal-interest split changes each month. For floating-rate loans the EMI can change when rates change.
What happens to my EMI if I make a prepayment?
A prepayment reduces the outstanding principal, which either lowers your EMI or shortens the tenure, depending on your lender's terms.