EMI Calculator
Calculate your loan EMI, see the full amortization schedule, and check how prepayments can save you interest -- for home loans, car loans and personal loans. Every calculation runs in your browser -- nothing you enter is ever sent anywhere.
Loan Details
EMI = P × r × (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 installments. A 0% interest rate is supported and simply divides the loan evenly across the tenure.
Extra Payment / Prepayment (optional)
A recurring extra monthly payment always shortens your tenure while your EMI stays fixed -- this is the standard, well-defined outcome for a repeating extra payment.
Leave the amount at 0 to see results without any prepayment.
Results
Monthly EMI
Total Principal
Total Interest
Total Amount Payable
Interest makes up 0% of your total repayment.
Amortization Schedule
How this EMI calculator works
Enter your loan amount, annual interest rate and tenure, then choose Calculate. This EMI calculator applies the standard reducing-balance formula used by banks and NBFCs across India -- EMI = P × r × (1+r)^n / ((1+r)^n - 1) -- with the monthly interest rate derived correctly from your annual rate (r = annual rate / 12 / 100). Every figure, from your monthly EMI to the full amortization schedule, is computed entirely in your browser using full-precision arithmetic, and only rounded for display. Whether you're checking a home loan EMI calculator scenario, a personal loan EMI calculator estimate, or a car loan, the same formula applies -- only the amount, rate and tenure change. Nothing you type is saved, transmitted to our servers, or used for anything other than showing you the result on this page.
Is this an official bank EMI calculator?
No. This is an independent estimation tool built by OurPaisa Tools and is not affiliated with, endorsed by, or an official calculator of any bank or lender. Your actual EMI depends on your lender's exact terms, processing fees and rounding conventions -- always confirm the final figure with your lender before signing a loan.
Is my loan data sent to any server?
No. Every calculation runs entirely in your browser. Nothing you enter -- loan amount, interest rate, tenure, or prepayment details -- is ever sent to our servers or stored anywhere. We do not require sign-up or login.
What loans can I use this EMI calculator for?
Any loan repaid through equal monthly installments, including home loans, car loans, personal loans and education loans. Enter the loan amount, annual interest rate and tenure for your specific loan.
How does prepayment reduce my interest?
A prepayment reduces your outstanding principal immediately, so less interest accrues on it going forward. You can choose to keep your EMI the same and finish the loan sooner, or keep your tenure the same and lower your EMI -- the calculator shows both the interest saved and the total payment reduction for whichever you pick.
Disclaimer: This tool provides an estimate for general informational purposes only and does not constitute financial or lending advice. It is not affiliated with any bank or lender, and figures may differ from your actual loan terms. See our Disclaimer and Terms of Use for more detail.