EMI Calculator
Calculate Loan EMI, Interest & Prepayment Savings
Planning a home loan, car loan, or personal loan? Our advanced EMI Calculator helps you calculate:
✅ Monthly EMI – Know your fixed loan installment.
✅ Total Interest Payable – Calculate Simple Interest (SI) & Compound Interest (CI).
✅ Prepayment Savings – See how early payments reduce interest and loan tenure.
✅ Customizable Tenure & Interest – Adjust loan duration and interest rate for comparisons.
✅ 100% Free & Secure – No registration required.
How to Use the EMI Calculator?
- Enter Loan Amount – The total loan amount you wish to borrow.
- Enter Interest Rate (%) – The annual interest rate offered by the lender.
- Select Loan Tenure – Choose repayment duration (in months/years).
- (Optional) Add Prepayment Amount – Enter any lump sum payment.
- (Optional) Select Prepayment Year – Choose the year when you plan to prepay.
- Click ‘Calculate’ – Get detailed EMI, SI, CI, and prepayment impact instantly.
🚀 Smart, Fast & Easy-to-Use!
Features of Our EMI Calculator
✅ EMI Calculation – Get your monthly loan installment in seconds.
✅ Simple Interest (SI) Calculation – Calculate total interest for short-term loans.
✅ Compound Interest (CI) Calculation – See how interest accumulates over time.
✅ Prepayment Benefits – Find out how making a lump sum prepayment reduces your interest burden.
✅ Detailed Loan Breakdown – See total amount paid, interest paid, and balance loan amount.
EMI, SI & CI Calculation Formulas
EMI Formula
EMI=P×R×(1+R)N(1+R)N−1EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N-1}EMI=(1+R)N−1P×R×(1+R)N
Where:
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
- N = Loan Tenure (in months)
Simple Interest (SI) Formula
SI=P×R×T100SI = \frac{P \times R \times T}{100}SI=100P×R×T
Where:
- P = Principal Amount
- R = Interest Rate (%) per year
- T = Loan Tenure in years
Compound Interest (CI) Formula
CI=P×(1+R100)T−PCI = P \times \left(1 + \frac{R}{100}\right)^T – PCI=P×(1+100R)T−P
Where:
- P = Principal Amount
- R = Annual Interest Rate (%)
- T = Loan Tenure in years
Prepayment Savings Calculation
Making a lump sum prepayment reduces your outstanding principal, lowering total interest and shortening loan tenure.
Loan EMI & Prepayment Example
📌 Home Loan with Prepayment
- Loan Amount: ₹50,00,000
- Interest Rate: 8% per annum
- Tenure: 20 years
- Monthly EMI: ₹41,822
- Prepayment Amount: ₹5,00,000 after 5 years
- New Loan Tenure: Reduced by 3 years
- Total Interest Saved: ₹8,00,000+
Why Use Our EMI Calculator?
📌 For Students & Job Seekers – Calculate EMI for education loans & personal loans.
📌 For Homebuyers – Compare home loan options & prepayment benefits.
📌 For Business Owners – Plan loan repayments for business expansion.
📌 For Smart Borrowers – Use SI & CI calculations to choose the best loan plan.
📌 Calculate EMI & Interest Now →
Frequently Asked Questions (FAQ)
1. What is an EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment made towards loan repayment. It includes both principal and interest.
2. How does prepayment reduce my loan burden?
When you prepay a lump sum, your outstanding principal reduces, leading to lower interest payments and a shorter loan tenure.
3. Can I calculate SI & CI for different loan types?
Yes! Our tool calculates Simple Interest (SI) and Compound Interest (CI) for all loans, including personal, education, business, and home loans.
4. Is my data secure?
Yes! This is a 100% browser-based tool, and we do not store any user data.
📌 Plan Your Loan Smartly!
Use our EMI Calculator to calculate monthly EMI, total interest, prepayment impact, and savings.