EMI Calculator
Calculate the equated monthly instalment for any loan.
Your figures
Result
How to use this tool
- Enter your figures in the fields on the left.
- Results update instantly as you type — there is no button to press.
- Change any input to see how sensitive the answer is to it.
Works for any amortising loan — home, car, personal or business. The maths is identical; only the typical rates and terms differ.
How it works
The calculation runs in your browser as you type — there is no submit button and nothing is sent anywhere. Change any figure and the results update immediately, which makes it easy to see how sensitive the answer is to each input.
Every formula used here is standard and documented in the questions below. Where a result depends on an assumption, the assumption is stated rather than buried.
Frequently asked questions
What is the EMI formula?
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is principal, r is the monthly rate, and n is the number of months.
Does EMI change during the loan?
Not on a fixed-rate loan. On a floating-rate loan the lender usually keeps the EMI constant and adjusts the term instead.
What is the difference between flat and reducing balance interest?
Flat rate charges interest on the original principal throughout, which is far more expensive. Reducing balance — what this calculator uses — charges on the outstanding amount.
Is this calculator free?
Yes, with no account, no limits and no data collection. It runs entirely in your browser.
Should I rely on this for a financial or medical decision?
No. It is a planning estimate built on standard formulas and stated assumptions. For decisions that matter, speak to a qualified professional who can account for your full circumstances.
Is this calculator accurate?
The arithmetic is exact — it uses the standard formula, shown in the questions above. What limits accuracy is the assumptions: the figures you enter, and factors the formula does not model such as fees, taxes and rule changes. Treat the result as a well-founded estimate rather than a quotation.
Do I need to sign up or download anything?
No. It runs in your browser, updates as you type, and stores nothing. There is no account, no download, and no limit on how many times you use it.
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Your files stay on your device. This tool runs entirely in your browser. No file is uploaded, transmitted, or stored. You can verify this by opening your browser's Network tab while using the tool.
Disclaimer. This calculator provides estimates based on standard formulas and the assumptions stated above. It is not financial, medical, tax or legal advice. For decisions that matter, consult a qualified professional. See our full disclaimer.