Loan EMI Calculator
An equated monthly installment (EMI) pays principal and interest over a fixed term. This uses the standard reducing-balance formula. Fees, insurance, and variable rates are not included.
Monthly payment512.91
Total paid30,774.80
Total interest5,774.80
Estimate only. Not a loan offer.
Formula
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is monthly rate and n is months.
How to use this calculator
- Enter principal.
- Enter annual interest rate.
- Enter term in months (60 = 5 years).
Examples
$25,000 at 8.5% for 60 months
Payment is about $513 per month before fees.
FAQ
Is this a mortgage?+
Same math. Use the mortgage calculator if you think in years and extra payments.
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