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.
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