EMI Calculator
Enter the loan amount, the yearly interest rate, and the term. You get the monthly instalment (EMI), the total interest, and a month-by-month schedule. Add an extra amount each month to see how much sooner you finish.
Paid on top of the EMI, straight off the principal.
Monthly EMI
for , last payment
- Principal
- Total interest
- Total you pay
A flat rate costs the same as a reducing-balance rate. Compare that number with other offers.
Paying extra each month finishes the loan sooner and saves in interest.
Same loan over other terms
Tap a row to use that term.
| Term | EMI | Interest |
|---|---|---|
Enter the loan amount, rate, and term to see your EMI.
Repayment schedule
Tap a year to see each month.
| Year | Principal | Interest | Balance | Principal and interest share |
|---|---|---|---|---|
Principal Interest Flat-rate schedules are split at the equivalent reducing rate; your lender may split them differently.
About the EMI Calculator
The EMI calculator works out the monthly instalment on a home, car, personal, education, or bike loan. It shows the total interest, a year-by-year and month-by-month schedule you can download, how an extra monthly payment shortens the loan, and the real reducing-balance rate behind a flat-rate offer. Amounts in taka and rupees are shown in lakh and crore.
How to use it
- 1 Pick a loan type, or stay on the general EMI calculator.
- 2 Enter the loan amount, the yearly interest rate, and the term in years or months.
- 3 Choose “Flat rate” if your lender quotes one, and add an extra monthly payment if you plan to pay more.
- 4 Read your EMI and total interest, open the schedule, and copy the share link or download the CSV.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the yearly rate ÷ 12 ÷ 100, and n is the number of months. A loan of 10,00,000 at 10% for 5 years (60 months) has an EMI of 21,247.
What is the difference between a flat rate and a reducing rate?
A reducing rate charges interest only on what you still owe, so the interest falls every month. A flat rate charges interest on the full loan for the whole term. A 10% flat rate over 5 years costs about the same as a 17.3% reducing rate, so always compare reducing rates.
Why is most of my early EMI interest?
Interest is charged on the balance, and the balance is highest at the start. As you pay the loan down, less of each EMI goes to interest and more goes to the principal. The schedule shows this year by year.
Does paying extra each month really help?
Yes, on a reducing-balance loan. Every extra payment comes straight off the principal, so you pay less interest from then on and finish sooner. Check whether your lender charges a prepayment fee first; many floating-rate home loans do not.
Is a longer loan term better?
A longer term lowers the EMI but raises the total interest, often by a lot. A 20-year home loan at 8.5% costs about 1.1 times the loan in interest; over 10 years it is about half. The term table shows the trade-off for your loan.
Does the EMI include fees and insurance?
No. The EMI is only the loan and its interest. Processing fees, insurance, and taxes are extra, so ask your lender for the total cost and the APR.
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