Free online tool

Estimate a monthly loan payment

Estimate a fixed monthly installment using the standard reducing-balance loan formula. Adjust the principal, annual interest rate and tenure to see the estimated payment and total interest.

Open the interactive EMI Calculator

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Quick guide

How to use this tool

  1. 01Enter the loan principal and annual interest rate.
  2. 02Choose a tenure in months or years and enter its length.
  3. 03Review the estimated monthly EMI, total payments and interest; fees and changing rates are not included.

Capabilities

Features and supported formats

  • Uses a standard fixed-rate amortizing-payment formula.
  • Supports monthly or yearly tenure input.
  • Calculations update locally without submitting financial details.

Supported formats

Inputs: principal, annual nominal interest rate and loan term. Output: estimated monthly payment and totals in the same currency unit as the principal.

Answers

Frequently asked questions

What does EMI mean?

EMI commonly means equated monthly installment: a fixed payment estimate for a loan repaid monthly at a constant interest rate.

Does this include fees or a changing interest rate?

No. The estimate excludes fees, insurance, taxes and rate changes. Confirm repayment terms and total cost with the lender; this tool is not financial advice.