Borrowing
Loan EMI calculator
Enter an amount, rate and tenure to see the monthly payment, the total interest you'll pay, and a full year-by-year amortization schedule.
The numbers here are examples. Interest rates, tax bands and every result are sample starting points or values you type in yourself. Nothing is pulled from a live rate feed or a bank, and the results are estimates only. Always check real figures with your bank, lender or a qualified adviser before making a decision.
Loan details
Monthly payment
EMI per month
5 yr · 8.5% APR
Principal
$25,000
Interest
$5,775
Total paid
$30,775
Where your money goes
Amortization by year
Loan EMI calculator
EMI per month
$512.91
- Loan amount
- $25,000
- Total interest
- $5,775
- Total of payments
- $30,775
- Tenure
- 5 yr
How the answer is worked out
The monthly payment uses the standard reducing-balance formula:
EMI = P · r · (1 + r)n / ((1 + r)n − 1)
where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments. When the rate is zero the payment is simply P ÷ n.
Each month, interest is charged on the outstanding balance and the rest of the payment reduces the principal. As the balance falls, the interest portion shrinks and the principal portion grows. Total interest is the sum of every month's interest charge; the final row absorbs any rounding so the balance lands exactly on zero.
Frequently asked questions
An equated monthly instalment is a fixed payment that covers both interest and principal so the loan is fully repaid by the end of the term. Early payments are mostly interest; later payments are mostly principal.