Financial Tool

Loan EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home, car, or personal loans.

Monthly EMI
$868
Total Interest
$108,278
Total Amount
$208,278

Σ The Formula

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Real World Examples

Home Loan
$200,000 at 7% for 30 years.
Personal Loan
$10,000 at 12% for 3 years.

# About This Calculator

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

Calculating EMIs helps you plan your monthly budget and understand the total cost of borrowing, including the total interest paid over the life of the loan.

How To Use

  1. Enter the **Loan Amount** (Principal).
  2. Enter the annual **Interest Rate**.
  3. Enter the **Tenure** (Duration) and select Years or Months.
  4. The **Monthly EMI** and total costs will calculate automatically.

Frequently Asked Questions

Does this include taxes or insurance?+

No. This calculator only computes the base loan EMI (Principal + Interest). Property taxes or mortgage insurance (PMI) are typically added separately by lenders.

What happens if I increase the tenure?+

Increasing the tenure reduces your monthly EMI but significantly increases the total interest you pay over the life of the loan.

Is Loan EMI Calculator free to use?+

Yes, Loan EMI Calculator on Matheric is completely free to use. We believe in accessible education and utility for everyone.

How accurate is Loan EMI Calculator?+

We use standard mathematical formulas and high-precision computing algorithms to ensure results for Loan EMI Calculator are accurate for academic and professional use.

Can I use Loan EMI Calculator on my phone?+

Yes! Loan EMI Calculator is fully responsive and optimized for all devices, including smartphones, tablets, and desktops.

Do you save my data?+

No. We prioritize your privacy. All calculations are performed in your browser or temporarily processed, and we do not store your personal input data.

About

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

Calculating EMIs helps you plan your monthly budget and understand the total cost of borrowing, including the total interest paid over the life of the loan.

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