Loan & EMI Calculator
PopularInstantEstimate your monthly loan payment (EMI) from the loan amount, interest rate, and term. See the total interest paid, the total repayment, and a year-by-year amortization breakdown.
Loan details
Your results
Monthly payment
$1,580.17
Principal
$250,000
Total interest
$318,861.22
Total paid
$568,861.22
Payments
360 mo
Amortization schedule (yearly)
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,794.31 | $16,167.73 | $247,205.69 |
| 2 | $2,981.45 | $15,980.59 | $244,224.23 |
| 3 | $3,181.13 | $15,780.91 | $241,043.1 |
| 4 | $3,394.17 | $15,567.87 | $237,648.93 |
| 5 | $3,621.49 | $15,340.55 | $234,027.44 |
| 6 | $3,864.03 | $15,098.02 | $230,163.42 |
| 7 | $4,122.81 | $14,839.23 | $226,040.61 |
| 8 | $4,398.92 | $14,563.12 | $221,641.69 |
| 9 | $4,693.52 | $14,268.52 | $216,948.17 |
| 10 | $5,007.86 | $13,954.18 | $211,940.32 |
| 11 | $5,343.24 | $13,618.8 | $206,597.07 |
| 12 | $5,701.09 | $13,260.95 | $200,895.99 |
| 13 | $6,082.9 | $12,879.14 | $194,813.09 |
| 14 | $6,490.28 | $12,471.76 | $188,322.8 |
| 15 | $6,924.95 | $12,037.09 | $181,397.85 |
| 16 | $7,388.73 | $11,573.31 | $174,009.13 |
| 17 | $7,883.56 | $11,078.48 | $166,125.56 |
| 18 | $8,411.54 | $10,550.5 | $157,714.02 |
| 19 | $8,974.88 | $9,987.16 | $148,739.15 |
| 20 | $9,575.94 | $9,386.1 | $139,163.21 |
| 21 | $10,217.26 | $8,744.78 | $128,945.95 |
| 22 | $10,901.53 | $8,060.51 | $118,044.42 |
| 23 | $11,631.62 | $7,330.42 | $106,412.8 |
| 24 | $12,410.61 | $6,551.43 | $94,002.18 |
| 25 | $13,241.78 | $5,720.26 | $80,760.41 |
| 26 | $14,128.6 | $4,833.44 | $66,631.8 |
| 27 | $15,074.82 | $3,887.22 | $51,556.98 |
| 28 | $16,084.41 | $2,877.63 | $35,472.57 |
| 29 | $17,161.61 | $1,800.43 | $18,310.96 |
| 30 | $18,310.96 | $651.08 | $0 |
How the math works
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)Here P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments (years × 12). Each payment is split between interest on the remaining balance and principal repayment; early payments are mostly interest, later ones mostly principal.
Tips for comparing loans
- Lower rate > shorter term for monthly budget, but a shorter term usually costs less overall.
- Watch total interest: two loans with the same monthly payment can differ hugely in total cost.
- Extra payments toward principal reduce the interest you pay over the life of the loan.
Frequently asked questions
What is EMI and how is it calculated?+
EMI (Equated Monthly Installment) is the fixed monthly payment on a loan. It is calculated as EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments.
Does a longer loan term reduce my payment?+
Yes. A longer term lowers the monthly payment because the principal is spread over more months, but you pay more total interest over the life of the loan.
What is an amortization schedule?+
An amortization schedule shows how each payment splits between interest and principal over time. Early payments are mostly interest; later payments are mostly principal.
Is my financial data sent anywhere?+
No. All loan calculations run entirely in your browser. Nothing you enter is sent to a server or stored.