Monthly EMI, total interest and year-wise loan schedule for any loan.. EMI Calculator is a free online tool from the ToolsRift Finance & Health Calculators collection. It runs entirely in your browser — nothing to install, no signup, and your data never leaves your device.
Enter the loan amount, annual interest rate and tenure. The calculator instantly shows your EMI, total interest, total payable and a year-wise schedule.
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 number of monthly instalments.
Interest each month is charged only on the remaining principal, not the original amount. As you repay, the interest portion shrinks and principal repayment grows.
Yes, a longer tenure lowers the monthly EMI but increases total interest paid, because the outstanding balance accrues interest over more months.