Loan EMI Calculator
Over 240 months · reducing-balance method
Display uses USD formatting; enter amounts in any currency — the EMI math is the same.
Amortization preview (first 6 months)
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $398.72 | $1,770.83 | $249,601.28 |
| 2 | $401.55 | $1,768.01 | $249,199.73 |
| 3 | $404.39 | $1,765.16 | $248,795.33 |
| 4 | $407.26 | $1,762.30 | $248,388.08 |
| 5 | $410.14 | $1,759.42 | $247,977.93 |
| 6 | $413.05 | $1,756.51 | $247,564.88 |
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Browse allWhat Is a Loan EMI Calculator?
An EMI (Equated Monthly Installment) calculator finds the fixed monthly payment on a loan when interest is charged on the reducing balance. Enter principal, annual rate, and tenure in years to see EMI, total interest, and a short amortization preview.
EMI Formula
Frequently Asked Questions
How is EMI calculated?
Use the standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n is the number of months.
Reducing balance vs flat rate?
Reducing balance charges interest on the remaining principal each month. Flat rate charges interest on the full principal for the whole tenure — usually more expensive.
How does tenure affect EMI?
Longer tenure lowers monthly EMI but raises total interest paid. Shorter tenure raises EMI and cuts interest.
Home loan vs personal loan EMI?
Same formula. Home loans often have lower rates and longer tenures; personal loans tend to be shorter and costlier.
Is this EMI calculator free?
Yes — free, private, no signup required.