See the monthly payment on any loan, the total interest and a year by year balance table.
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Type a loan amount, a yearly interest rate and a tenure, and this EMI calculator gives the fixed monthly payment, the months it takes to clear, the total interest and the total paid back. A year by year table then shows the principal paid, the interest paid and the balance left at each step.
Try two tenures side by side. A longer tenure shrinks the monthly payment and grows the total interest, and the table makes that trade visible in a way a single monthly figure never does.
The EMI is the fixed monthly payment that clears the loan by the end of the tenure. Early payments are mostly interest, later payments are mostly principal, and the table shows that shift year by year with the balance left after each year.
The extra payment field is worth testing. Even a small extra amount each month cuts months off the end of the loan, and the tool shows the interest saved and the months cut when you use it, so the gain is a number rather than a guess.
At a 0 percent rate there is no interest to spread, so the tool simply splits the amount evenly across the months. The formula printed on the page is EMI = P x r x (1 + r)^n / ((1 + r)^n – 1), where r is the monthly rate and n is the number of monthly payments.
The result covers the loan itself and nothing else. Lender fees, insurance and other charges are not included, and on many loans those add a real amount to the true cost. Ask for the full cost figure from the lender before signing.
The maths assumes one fixed rate for the whole tenure. With a floating rate, a real lender changes the payment or stretches the tenure when the rate moves, so treat this figure as the picture at the rate you typed rather than a promise for year five.
Everything runs in your browser. The amounts you type are never uploaded or stored, and there is no sign-up and no cap on how many loans you compare.
The formula is EMI = P x r x (1 + r)^n / ((1 + r)^n – 1). P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. The page prints the formula so you can check it against any lender quote.
Because interest is charged on the balance for every month the loan runs. Stretching the same loan over more months lowers each payment but keeps a balance alive for longer, so more interest piles up in total.
The extra amount comes straight off the principal. The balance falls faster, the loan ends months early, and the interest saved is shown on the page next to the months cut when you fill in the extra payment field.
There is no interest to calculate, so the loan amount is split evenly across the months. A loan of 12,000 over 12 months at 0 percent is simply 1,000 a month, and the tool handles that case directly.
No. The figure covers principal and interest only. Processing fees, insurance and other lender charges sit outside it, and they can change which offer is actually cheaper, so compare full cost figures as well.
Yes. Any loan with a fixed rate and a set tenure fits the same maths, whether it is a home loan, a car loan or a personal loan. Change the amount, rate and tenure and the table rebuilds.
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