Calculate your loan EMI in seconds, not spreadsheets
This free EMI calculator instantly shows your monthly installment, total interest and total payment for any loan amount, rate and tenure — no sign-up required.
Reading your loan details…
Your EMI breakdown
How the EMI calculator works
Three quick steps separate you from a full loan repayment breakdown.
Enter your loan details
Type in the loan amount, the annual interest rate offered, and how many years you'll take to repay it.
Pick your currency
Choose the currency your loan is in so every figure in the breakdown reads correctly.
Get six instant metrics
Monthly EMI, total interest, total payment and more all appear together — no manual formulas.
Built for loan decisions, not just numbers
An EMI figure alone doesn't tell you what a loan really costs. These are the details we designed around that.
Six metrics, one calculation
Monthly EMI, total interest, total payment and more all appear together — you compare, not re-calculate.
Seconds, not spreadsheets
No amortization formulas to remember. Type three numbers and get an accurate breakdown instantly.
Free, with no limit
Compare as many loan offers as you like across as many lenders as you want. No paywall, no sign-up.
Copy, download or share
Grab one figure with a tap, save the full breakdown as a text file, or share it with a co-signer.
What knowing your real EMI saves you
Compare offers properly
Two loans with the same EMI can have very different total interest — this breakdown shows both side by side.
Avoid budget surprises
Knowing the exact monthly figure before you sign means it fits your budget from day one, not after the first bill.
Test different tenures fast
Recalculate in seconds to see how a shorter or longer tenure changes both your EMI and your total interest.
Who uses this free EMI calculator?
From first-time borrowers to financial advisors, EMIWise helps anyone understand a loan before signing.
Frequently asked questions
Yes. There's no sign-up, no trial period and no cap on how many times you calculate.
EMI uses the reducing-balance formula: principal times the monthly interest rate times (1 plus the monthly rate) raised to the number of months, divided by that same term minus one.
No. Every calculation runs locally in your browser — your loan amount, rate and tenure are never sent to a server or saved anywhere.
Yes. The reducing-balance EMI formula applies to any fixed-rate installment loan, regardless of what it's used for.
The calculator switches to a simple division of principal by the number of months, since there's no interest to compound.
A flat rate produces a different, usually higher, effective EMI than reducing balance. Ask your lender which method applies before comparing offers.
Getting more useful numbers
Compare EMI across different tenures before committing — a longer tenure lowers EMI but raises total interest.
Check whether the rate you were quoted is flat or reducing balance — they produce very different EMIs.
Add a buffer to your monthly budget beyond the EMI figure for processing fees and insurance.
A shorter tenure with a slightly higher EMI often saves significantly more in total interest over time.
Recalculate whenever your lender revises the interest rate — even a small change compounds over years.
Judge a loan offer by its total interest, not just its EMI — a lower EMI can still cost more overall.