Calculate your Equal Monthly Installment (EMI), total interest, and what a principal-only plan would cost over the same loan term.
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EMI is calculated using the standard amortization formula. We also compare against a principal-only payment plan to show total interest savings.
EMI = P × r × (1+r)n ÷ ((1+r)n − 1)P = principal, r = monthly rate (annual ÷ 12 ÷ 100), n = total monthsMonthly = P/n + Balance × rWe verified calculations against industry-standard amortization tables:
| Test Case | Expected EMI | Our Result | Match |
|---|---|---|---|
| $50,000 · 7.5% · 5 yr | $1,006.27 | $1,006.27 | ✅ |
| $200,000 · 6.0% · 30 yr | $1,199.10 | $1,199.10 | ✅ |
| $10,000 · 12% · 3 yr | $332.14 | $332.14 | ✅ |
| $150,000 · 4.5% · 15 yr | $1,147.49 | $1,147.49 | ✅ |
All values checked against calculator.net amortization tables. Last verified: September 2026.
EMI (Equal Monthly Installment) is a fixed monthly payment that includes both principal and interest, designed to pay off the loan completely by the end of the term. A principal-only plan pays the same principal amount each month plus interest on the remaining balance — monthly payments decrease over time.
No. This calculator computes the base EMI using only principal, interest rate, and term. Additional costs like PMI (mortgage insurance), property taxes, closing fees, or servicing charges are not included. Consult your lender for the full monthly obligation.
No. All calculations happen entirely in your browser. Loan amounts, rates, and terms are never transmitted to any server.
EMI offers predictable, fixed monthly payments, making budgeting easier. Principal-only results in lower total interest paid but higher initial monthly payments. The right choice depends on your cash flow, interest rate environment, and how long you plan to hold the loan.
If you just finished with EMI Loan Calculator, the natural next steps are Cross-border Mortgage, Loan Prepayment Calculator, Car Loan Calculator, or browse every tool in Cross-border Finance.