CALBD · Smart Finance Calculator
Loan EMI Calculator
Calculate your monthly EMI, total interest, amortization schedule, and compare loans in one modern responsive tool.
Loan details
Enter principal, interest rate, and tenure to calculate EMI.
Currency
% p.a.
Years
Monthly EMI
—
Awaiting input
Total interest
—
Interest outgo
Total payment
—
Principal + interest
Principal share
—
Interest share
—
Insights & tools
Compare loans, view amortization, and learn EMI math.
| Month | Opening balance | EMI | Interest | Principal | Closing balance |
|---|
Calculation time: — ms
Total calculations: 0
Loan A
Currency
% p.a.
Months
Loan B
Currency
% p.a.
Months
Enter details for Loan A and Loan B, then click “Compare loans” to see which option has lower EMI and interest cost.
Most banks use the standard EMI formula used for fixed-rate amortizing loans.
EMI formula
EMI = P × R × (1 + R)N ÷ ((1 + R)N − 1)
Where:
- P = Loan principal (amount you borrow)
- R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N = Total number of monthly EMIs (tenure in months)
How EMI is split every month
For each month, interest is calculated on the outstanding balance. The EMI stays constant, but as the balance reduces, the interest part falls and the principal part rises.
This pattern is reflected in the amortization table, where early EMIs are interest-heavy and later EMIs are principal-heavy.
Total EMI calculations so far: 0
Favorites
Use “Add to favorites” after a calculation to save a configuration that you can reload from history with one click.