FileHubTools — Free document and photo resizer tools for Indian government exams

Loan EMI Calculator

Calculate your monthly installment, total interest payable, and view the complete amortization schedule for personal, home, or car loans.

AED
%

How is EMI Calculated?

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 used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

The EMI Formula

The mathematical formula to calculate EMI is:
E = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)

  • E is the Equated Monthly Installment (EMI).
  • P is the Principal Loan Amount.
  • r is the monthly interest rate (calculated as Annual Rate / 12 / 100).
  • n is the loan duration in months.

What is an Amortization Schedule?

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. In the early years of a mortgage, the vast majority of your monthly payment goes toward interest. In the later years, the majority of your payment goes toward paying down the principal.

Related Tools

Mortgage Calculator

Calculate your monthly mortgage payments including down payment, interest rate, and tenure.

Salary Calculator

Convert your hourly, daily, weekly, or monthly wage into an annualized salary equivalent.

Currency Converter

Convert between major global and Gulf currencies (USD, AED, SAR, INR, EUR, GBP) using fixed peg rates and recent averages.

Frequently Asked Questions

How to use Loan EMI Calculator

  1. 1

    Enter your details

    Open Loan EMI Calculator and type your values into the fields. Calculate your Equated Monthly Installment (EMI) for personal, car, or home loans with amortization schedule.

  2. 2

    See the result instantly

    The result updates automatically as you type — no button to press. All calculations run locally in your browser; nothing is sent to a server.

  3. 3

    Adjust or copy

    Change any input to recalculate immediately, then copy or note the result.