EMI Calculator
Calculate your loan EMI, total payment, and total interest from the principal, rate, and tenure. Free and accurate.
Calculator by Toolsloft ↗- Monthly EMI
- $8,791.59
- Total payment
- $105,499.06
- Total interest
- $5,499.06
This calculator works out the fixed monthly EMI on a loan along with the total payment and total interest over its life, given the principal, annual rate, and tenure in months. Use it to plan a car, home, or personal loan repayment and to see how much of your payments is interest.
How this is calculated
It uses the standard EMI formula, P times r times (1+r)^n divided by ((1+r)^n minus 1), where r is the monthly rate (annual rate divided by 12 then by 100) and n is the number of months; at a 0 percent rate the EMI is simply principal divided by months.
How to use
- Enter the loan principal.
- Enter the annual interest rate and tenure in months.
- Read the monthly EMI, total payment, and total interest.
Examples
- 12% for 12 mo:
100000 → EMI 8884.88 - 0% interest:
100000 over 10 mo → EMI 10000
FAQ
- How is EMI calculated?
- EMI = P·r·(1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
- What happens at 0% interest?
- With no interest, the EMI is simply the principal divided by the number of months.
- Is the tenure in months or years?
- This calculator uses months. For a 5-year loan, enter 60.