EMI Calculator
Calculate EMI, Interest & Payment Schedule Instantly
Calculate your loan EMI, total interest, and payment schedule instantly online. Free, privacy-friendly, and easy-to-use EMI calculator for home, personal, and vehicle loans.
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What is an EMI Calculator?
An EMI calculator is a free online tool that helps you calculate your monthly loan payment (EMI), total interest, and payment schedule for home, car, personal, and other loans. It uses the principal amount, interest rate, and tenure to instantly show your EMI and total cost, making financial planning easier and more accurate.
Why Use an EMI Calculator?
- Quickly calculate EMI for any loan type—home, car, personal, education, and more.
- Compare loan offers from different banks and lenders.
- See total interest, total payment, and amortization schedule instantly.
- Download your EMI schedule as PDF or Excel for easy reference.
- Privacy-friendly, no ads, no tracking, and no registration required.
- Works for India, USA, and other regions.
How Does EMI Calculation Work?
The EMI formula is: 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. The calculator uses this formula to compute your monthly payment, total interest, and outstanding balance for each month.
Common Use Cases
- Planning home, car, personal, or education loans.
- Comparing loan offers from banks like SBI, HDFC, ICICI, Axis Bank, and more.
- Calculating EMI for prepayment or part payment scenarios.
- Understanding your loan amortization schedule.
- Budgeting monthly payments for financial planning.
Benefits of Using This EMI Calculator
- Instant results with detailed breakdowns and charts.
- Mobile-friendly and privacy-focused design.
- Free to use, no registration or ads.
- Download results as PDF or Excel for sharing and record-keeping.
How to Use This EMI Calculator
- Enter your loan details: principal, down payment, interest rate, and tenure.
- Choose your loan type and any prepayment or part payment options.
- Click Calculate to see EMI, total interest, total payment, and schedule.
- Download your amortization table as PDF or Excel.
Frequently Asked Questions
See the FAQ section below for answers to common EMI calculation queries.
EMI Calculator for Home, Car, Personal & Auto Loans
Frequently Asked Questions
What is an EMI calculator?
An EMI calculator is an online tool that helps you quickly determine your monthly loan payment (EMI), total interest, and total payment for a given principal, interest rate, and tenure.
How do you calculate EMI?
The formula for EMI is: 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.
Why use an online EMI calculator?
An online EMI calculator saves time, reduces errors, and helps you make informed financial decisions by instantly showing your monthly payment and total cost.
What types of loans can I use this calculator for?
This calculator works for home loans, personal loans, car loans, education loans, and more. Just enter your loan details to get results.
Can I use this calculator for prepayment or part payment?
This calculator is designed for standard EMI calculations. For prepayment or part payment, consult your lender or use advanced calculators.
Which banks are supported?
You can use this EMI calculator for loans from HDFC, SBI, ICICI, Axis Bank, and more. Compare rates and terms easily.
Can I calculate EMI for car, home, and personal loans?
Yes, this calculator supports car loans, home loans, personal loans, auto loans, and more for India, USA, and other regions.
Does this calculator work for monthly and yearly EMI?
Yes, you can enter tenure in years and months to get accurate monthly EMI results.
Can I download my EMI schedule?
Yes, you can download your amortization table as PDF or Excel for easy reference and sharing.
User Reviews
"Super easy to use and accurate! Helped me plan my loan perfectly."
— Priya S."Best EMI calculator online. Fast, private, and no ads!"
— Rahul M."I recommend this to anyone looking for a quick loan calculation."
— Anjali T.About MyClickTools
MyClickTools is a free, privacy-friendly collection of calculators, converters, and developer tools. No logins, no tracking—just useful utilities for everyone.