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EMI Loan Calculator
Calculate your monthly loan instalment (EMI), total interest paid, and get a full amortization breakdown. Works for home, car, personal, and business loans worldwide.
Enter Loan Details
Fill in your loan info to calculate EMI and total repayment
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%
years
Enter loan amount, rate, and tenure above
Your EMI and full amortization will appear here
How to Use
- 1Enter your loan amount in your preferred currency.
- 2Add the annual interest rate offered by your bank or lender.
- 3Enter the loan tenure in years, or use a quick preset for common loan types.
- 4Review the monthly EMI, total interest, total payment, and first 12 months of amortization.
Example Calculation
- Loan amount: Tk 500,000
- Annual interest rate: 10%
- Tenure: 5 years
Estimated EMI: about Tk 10,624 per month.
Formula Used
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. This is a reducing balance estimate.
Smart Loan Planning Tips
- 1A higher down payment reduces your loan amount and total interest significantly
- 2Even 1% lower interest rate on a large loan can save lakhs over the tenure
- 3Shorter tenure means higher EMI but much less total interest paid
- 4Use the preset buttons to quickly compare home vs car vs personal loan rates
- 5BD banks typically offer home loans at 9–11% and personal loans at 12–18%
- 6Always factor EMI into your monthly budget — keep it under 40% of net income
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to repay a loan over a set period. Each payment includes a portion of the principal and interest.
How is EMI calculated?
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), and n is the total number of monthly payments.
What loan types are supported?
Home loan, car loan, personal loan, business/SME loan — or any instalment loan. Use the quick preset buttons or enter your own rate and tenure.
What currencies does this support?
BDT, USD, EUR, GBP, AUD, INR, SGD, and CAD. The calculator works for any country — just enter your local rates and loan amount.
What is an amortization schedule?
It shows how each monthly payment is split between principal and interest. Early payments are mostly interest; later payments shift toward principal.
Is this the same as a reducing balance EMI?
Yes. This calculator uses the standard reducing balance (diminishing balance) method, which is how most banks calculate home and car loans.