Loan EMI Calculator
Fill Principal, Annual rate %, and Months, then press Calculate. The tool turns the yearly rate into a monthly rate, applies the standard EMI formula, and shows EMI rounded to two decimal places.
Updated 2026-08-03 · finance
About this tool
This loan EMI calculator uses monthly rate r = annual rate ÷ 1200 and n = months. When r is zero, EMI is principal ÷ months. Otherwise EMI is (p × r × (1+r)^n) ÷ ((1+r)^n − 1). Invalid or missing numbers show Enter valid numbers. It is an estimate, not a bank quote.
How to use
- Open the calculator: Load this page so Principal, Annual rate %, Months, and Calculate appear.
- Enter loan details: Set principal amount, yearly interest percent, and tenure in months (samples are 10000, 10, and 12).
- Calculate EMI: Click Calculate to run the EMI formula in your browser.
- Read the payment: Check the result line for EMI: amount, or correct inputs if you see Enter valid numbers.
Common use cases
- Estimate monthly installments before comparing personal or auto loan offers.
- See how changing tenure in months shifts the EMI amount.
- Rough-check a quoted EMI against principal and advertised annual rate.
Tips
- Enter the annual percentage rate, not a monthly rate—the tool divides by 1200.
- Click Calculate after each edit; the EMI line does not auto-refresh.
FAQ
What does EMI mean here?
Equal monthly installment—the fixed payment estimate for principal and interest over the months you enter.
What if the interest rate is 0%?
EMI becomes principal divided by months, with no interest component.
Why Enter valid numbers?
Principal or months was zero/invalid, or the rate was not a finite number.
Is this an official bank quote?
No. It is a standard formula estimate for planning; lenders may add fees or different compounding.