EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each payment covers interest accrued that month plus a portion of the principal.

Why does early repayment save so much interest?

In the early months, most of your payment goes to interest rather than principal. Paying extra early reduces the principal faster, which reduces all future interest charges.

Does this include taxes and insurance?

No — this calculator covers principal and interest only. For mortgages, your actual payment will also include property tax and insurance (often called PITI).

Loan & EMI Calculator

Calculate your monthly loan payment and see the full amortization schedule. Works for mortgages, car loans, and personal loans — all in your browser.

How to use

1
Enter loan details
Enter the loan amount, annual interest rate, and loan term in years.
2
See your payment
Your monthly payment, total interest, and total repayment appear instantly.
3
Review amortization
Toggle the amortization schedule to see how principal and interest split each year.

Why use this tool?

Calculates monthly EMI for any loan type — mortgage, car, or personal
Full year-by-year amortization schedule shows principal vs. interest split
Visual bar shows what fraction of total repayment is interest
Runs entirely in your browser — your financial details stay private

Frequently asked questions

What is EMI?: EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each payment covers interest accrued that month plus a portion of the principal.
Why does early repayment save so much interest?: In the early months, most of your payment goes to interest rather than principal. Paying extra early reduces the principal faster, which reduces all future interest charges.
Does this include taxes and insurance?: No — this calculator covers principal and interest only. For mortgages, your actual payment will also include property tax and insurance (often called PITI).

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