Loan EMI Calculator

How to use this tool

1. Enter the loan amount, the annual rate as a percentage, and the term in months.
2. Press Calculate. The EMI, total interest and total payment appear together.
3. Read the amortisation note: it explains why early payments are mostly interest.

Worked example

With the sample (100,000 at 12% annual over 12 months), the monthly EMI is 8,884.88, the total payment is 106,618.55 and the total interest is 6,618.55. The monthly rate is 12 / 12 / 100 = 0.01, and the standard EMI formula — principal × rate × (1 + rate)^months / ((1 + rate)^months − 1) — gives exactly that figure; it was cross-checked in a test script against the same formula written independently.

What this tool does not do / Limits

This tool assumes a fixed rate, equal monthly payments, no fees, no prepayment and no missed payments. Real loans add processing fees, insurance and sometimes variable rates, so a lender's schedule is the authoritative figure. It is an estimate, not a loan offer. This is general arithmetic, not financial advice; for a borrowing or saving decision, check with a qualified financial adviser or your lender.

Frequently asked questions