Loan EMI Calculator
Work out the equal monthly instalment (EMI) for a loan with a fixed interest rate, plus the total interest you pay over the loan.
- Monthly instalment (EMI)
- –
- Total interest
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- Total paid
- –
How it is calculated
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- P = loan amount, r = yearly rate ÷ 12 ÷ 100, n = number of months
- If the rate is 0: EMI = P ÷ n
Worked example
A loan of 100,000 at 10% a year over 12 months.
| You enter | |
|---|---|
| Loan amount | 100,000 |
| Interest rate per year | 10 % |
| Loan term | 12 months |
| You get | |
| Monthly instalment (EMI) | 8,791.59 |
| Total interest | 5,499.06 |
| Total paid | 105,499.06 |
Questions
Does this include fees or insurance?
No. Processing fees, insurance and taxes are extra. Ask your bank for the full repayment schedule.
Why is the total a few paisa off my bank statement?
Banks round each instalment and may adjust the last one. This calculator rounds only the final figures.
Does it work for Islamic (profit-based) financing?
Only if the profit is fixed and charged like a reducing-balance rate. Diminishing musharakah and ijarah plans can differ; check with your bank.
Sources and checks
Last checked: 12 October 2026. This calculator passes 5 automatic tests before every release.
Results are estimates for information only and are not financial, tax or legal advice. Check important figures with a qualified professional before you act on them.