About this tool
Work out the equated monthly installment (EMI) for a loan from its amount, annual interest rate and term, plus the total you will pay and the total interest. It uses the standard amortization formula and runs entirely in your browser.
Frequently asked questions
What is an EMI?
An EMI is the fixed equated monthly installment that repays both principal and interest over the loan term, computed with the amortization formula P·r·(1+r)^n / ((1+r)^n − 1).
Can I enter the term in months?
Yes. Switch the unit selector to months to enter the term directly, or leave it on years and the term is converted to months for you.