💳 Loan & EMI Calculator
Calculate the monthly payment (EMI) for a personal, auto or student loan, total interest, and a month-by-month repayment schedule.
Quick answer: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). Example: a 25,000 loan at 7.5% for 5 years costs about 501 per month and about 5,057 in total interest.
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Loan & EMI Calculator inputs
Result
Monthly payment (EMI)
$500.95
- Total interest
- $5,056.96
- Total amount paid
- $30,056.96
- Paid off in
- 5 years
- Interest as % of loan
- 20.2%
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $4,281.59 | $1,729.81 | $20,718.41 |
| 2 | $4,613.97 | $1,397.43 | $16,104.44 |
| 3 | $4,972.18 | $1,039.22 | $11,132.26 |
| 4 | $5,358.16 | $653.24 | $5,774.10 |
| 5 | $5,774.10 | $237.26 | $0.00 |
Show monthly schedule (60 payments)
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $500.95 | $344.70 | $156.25 | $24,655.30 |
| 2 | $500.95 | $346.85 | $154.10 | $24,308.45 |
| 3 | $500.95 | $349.02 | $151.93 | $23,959.43 |
| 4 | $500.95 | $351.20 | $149.75 | $23,608.23 |
| 5 | $500.95 | $353.40 | $147.55 | $23,254.83 |
| 6 | $500.95 | $355.61 | $145.34 | $22,899.22 |
| 7 | $500.95 | $357.83 | $143.12 | $22,541.39 |
| 8 | $500.95 | $360.07 | $140.88 | $22,181.32 |
| 9 | $500.95 | $362.32 | $138.63 | $21,819.00 |
| 10 | $500.95 | $364.58 | $136.37 | $21,454.42 |
| 11 | $500.95 | $366.86 | $134.09 | $21,087.56 |
| 12 | $500.95 | $369.15 | $131.80 | $20,718.41 |
| 13 | $500.95 | $371.46 | $129.49 | $20,346.95 |
| 14 | $500.95 | $373.78 | $127.17 | $19,973.17 |
| 15 | $500.95 | $376.12 | $124.83 | $19,597.05 |
| 16 | $500.95 | $378.47 | $122.48 | $19,218.58 |
| 17 | $500.95 | $380.83 | $120.12 | $18,837.75 |
| 18 | $500.95 | $383.21 | $117.74 | $18,454.54 |
| 19 | $500.95 | $385.61 | $115.34 | $18,068.93 |
| 20 | $500.95 | $388.02 | $112.93 | $17,680.91 |
| 21 | $500.95 | $390.44 | $110.51 | $17,290.47 |
| 22 | $500.95 | $392.88 | $108.07 | $16,897.59 |
| 23 | $500.95 | $395.34 | $105.61 | $16,502.25 |
| 24 | $500.95 | $397.81 | $103.14 | $16,104.44 |
| 25 | $500.95 | $400.30 | $100.65 | $15,704.14 |
| 26 | $500.95 | $402.80 | $98.15 | $15,301.34 |
| 27 | $500.95 | $405.32 | $95.63 | $14,896.02 |
| 28 | $500.95 | $407.85 | $93.10 | $14,488.17 |
| 29 | $500.95 | $410.40 | $90.55 | $14,077.77 |
| 30 | $500.95 | $412.96 | $87.99 | $13,664.81 |
| 31 | $500.95 | $415.54 | $85.41 | $13,249.27 |
| 32 | $500.95 | $418.14 | $82.81 | $12,831.13 |
| 33 | $500.95 | $420.76 | $80.19 | $12,410.37 |
| 34 | $500.95 | $423.39 | $77.56 | $11,986.98 |
| 35 | $500.95 | $426.03 | $74.92 | $11,560.95 |
| 36 | $500.95 | $428.69 | $72.26 | $11,132.26 |
| 37 | $500.95 | $431.37 | $69.58 | $10,700.89 |
| 38 | $500.95 | $434.07 | $66.88 | $10,266.82 |
| 39 | $500.95 | $436.78 | $64.17 | $9,830.04 |
| 40 | $500.95 | $439.51 | $61.44 | $9,390.53 |
| 41 | $500.95 | $442.26 | $58.69 | $8,948.27 |
| 42 | $500.95 | $445.02 | $55.93 | $8,503.25 |
| 43 | $500.95 | $447.80 | $53.15 | $8,055.45 |
| 44 | $500.95 | $450.60 | $50.35 | $7,604.85 |
| 45 | $500.95 | $453.42 | $47.53 | $7,151.43 |
| 46 | $500.95 | $456.25 | $44.70 | $6,695.18 |
| 47 | $500.95 | $459.11 | $41.84 | $6,236.07 |
| 48 | $500.95 | $461.97 | $38.98 | $5,774.10 |
| 49 | $500.95 | $464.86 | $36.09 | $5,309.24 |
| 50 | $500.95 | $467.77 | $33.18 | $4,841.47 |
| 51 | $500.95 | $470.69 | $30.26 | $4,370.78 |
| 52 | $500.95 | $473.63 | $27.32 | $3,897.15 |
| 53 | $500.95 | $476.59 | $24.36 | $3,420.56 |
| 54 | $500.95 | $479.57 | $21.38 | $2,940.99 |
| 55 | $500.95 | $482.57 | $18.38 | $2,458.42 |
| 56 | $500.95 | $485.58 | $15.37 | $1,972.84 |
| 57 | $500.95 | $488.62 | $12.33 | $1,484.22 |
| 58 | $500.95 | $491.67 | $9.28 | $992.55 |
| 59 | $500.95 | $494.75 | $6.20 | $497.80 |
| 60 | $500.91 | $497.80 | $3.11 | $0.00 |
How the loan / EMI calculator works
Enter how much you want to borrow, the annual interest rate and the repayment period. The calculator returns your fixed monthly installment (EMI), the total interest you will pay over the life of the loan and a full repayment schedule showing how each payment is split between principal and interest.
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
For example, borrowing 25,000 at 7.5% for 5 years gives an EMI of about 501 and about 5,057 of total interest.
Tips before you borrow
- Compare the APR (which includes fees), not only the headline rate.
- Keep EMIs for all your loans below roughly 35–40% of your monthly take-home pay.
- Check whether the lender charges a prepayment penalty before planning extra payments.
- A longer term lowers the EMI but increases total interest – use the table above to compare.
Frequently asked questions
What is EMI?
EMI stands for Equated Monthly Installment – the fixed amount you repay every month until the loan is cleared. Each EMI contains part interest and part principal.
What is the EMI formula?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
Does this work for car, personal and student loans?
Yes. Any fixed-rate loan repaid in equal monthly installments uses the same maths – auto loans, personal loans, student loans, home loans and most business loans.
How can I reduce the total interest on my loan?
Choose a shorter term, negotiate a lower rate, or prepay. Enter an extra monthly payment above to see how much interest you save and how much sooner the loan ends.