EMI Calculator - Free Online Tool
Calculate EMI for home loan, car loan, and personal loan instantly. Free EMI calculator with amortization table, interest breakdown, and prepayment analysis.
Calculate loan EMI instantly with amortization schedule, interest breakdown, and prepayment analysis
EMI Calculator Features
- Instant EMI Calculation: Calculate loan EMI with principal, interest, and tenure breakdown in real-time
- Amortization Table: See month-by-month breakdown of principal, interest, and remaining balance
- Prepayment Analysis: Calculate how much you save with extra prepayments toward your loan
- Loan Presets: Quick presets for Home, Car, Personal, Education, and Gold loans with Indian bank rates
- Export Schedule: Download the full amortization schedule as CSV for your records
How to Use EMI Calculator
Calculate your loan EMI in three simple steps
- Step 1: Choose Loan Type — Select from Home, Car, Personal, Education, Gold loan presets or enter custom values
- Step 2: Set Parameters — Adjust loan amount, interest rate, and tenure using sliders or manual input
- Step 3: View Results — See EMI, total interest, amortization schedule, and download the report as CSV
Frequently Asked Questions about EMI Calculator
How is EMI calculated?
EMI is calculated using the standard reducing balance formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.
Can I calculate EMI for different loan types?
Yes! We have presets for Home Loan, Car Loan, Personal Loan, Education Loan, and Gold Loan — each with typical Indian bank interest rates.
Does prepayment reduce my total interest?
Yes, making a lump sum prepayment reduces your outstanding principal, which significantly reduces total interest paid. Our calculator shows exact savings.
Is this EMI calculator accurate?
Yes, it uses the standard reducing balance method used by all Indian banks including SBI, HDFC, ICICI, and others.
Can I download the amortization schedule?
Yes, you can download the complete month-by-month breakdown as a CSV file for your records.
Is this EMI calculator free?
Yes, 100% free with no signup, no limits, and no ads. Use it as many times as you need.
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