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Calculate your exact EMI for home, car, or personal loans instantly. See principal vs. interest breakdown, full amortization schedule.
Stop guessing what your loan will cost you every month.
Whether you're buying a home, financing a car, or comparing personal loan offers, this free EMI Calculator provides a full repayment breakdown, amortization schedule, and total interest cost.
This reducing balance formula is used by every major lender globally, including HDFC, SBI, ICICI, and major US mortgage lenders.
Home loans carry the largest principal and longest tenures. Even a 0.25% difference in rate can save thousands over 25 years.
Vehicle financing intent is rising fast. Dealers rarely lead with total interest; use this tool to see the real cost.
Personal loans carry higher rates (12%–24%). Adjust tenure to find a payment your budget can absorb.
Mortgage planning is deeply tied to your age and retirement goals. Knowing when your loan will be paid off relative to your retirement age is critical for financial independence.
An EMI (Equated Monthly Installment) calculator computes the fixed monthly payment you owe on a loan based on the principal, rate, and tenure.
A home loan EMI uses the reducing balance formula: EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]. For a $350k loan at 7% for 25 years, the EMI is ~$2,474/month.
It helps you know your exact cash outflow, compare lenders, test tenure effects on interest, and identify your maximum affordable loan amount.
Divide the annual rate by 1,200 to get the monthly rate (r). Raise (1 + r) to the power of n, multiply by P × r, and divide by [(1 + r)ⁿ − 1].
Yes. The reducing balance formula is universal and matches results from HDFC, SBI, ICICI, and US mortgage lenders.