EMI Loan Calculator

The EMI Loan Calculator is a simple tool for calculating Equated Monthly Installment for personal loan, car loan, home loan etc. Simply enter loan amount, lon tenure and interest rate and press the calculate button to avail the output value.

Loan Amount:$
Interest Rate:%
Loan Tenure(months):
Monthly Payment($):

EMI Loan Calculator: This is one of the greatest tools for quickly calculating the EMI loan amount for the given details. It provides the monthly payment value in a short span of time. Learn the steps to calculate EMI loan amount manually for personal loan, home loan or car loan and EMI loan formula. Find the solved examples on EMI loan and terminology in the following sections.

What is EMI?

The EMI (Equated Monthly Installment) is the amount payable every month to the bank until the loan amount is fully paid off. It contains interest on loan along with the principal amount to be repaid. The interest component of the EMI is large during the initial months and gradually decreases with each payment. The percentage of EMI is based on the interest rate. The different factors that affect your monthly payment of loan amount are along the lines:

  • Loan amount: It is the amount of loan taken. It is helpful in finding the overall EMI amount that you need to pay.
  • Interest Rate: The loan interest rate is that you will contribute in determining the due installment amount. The lower interest rate is overall amount that should be paid is less.
  • Term of loan changes: If you extend or reduce the loan tenure, the installment amount to be payable towards loan will increase or decrease to adjustthe new loan term.

The EMI loan formula is EMI = PV x i x [(1+i)n/((1+i)n-1)]


PV - Loan Amount (Present Value)

i - Rate of interest

n - Loan term

Step by Step Process to Calculate EMI on Loan

These are the steps and guidelines to find the EMI or monthly payable amount on loan. You can find the EMI on personal loan, car loan and home loan using the following steps.

  • Check loan amount, loan tenure and interest rate.
  • Add 1 to the rate of interest and find number of months of loan times the sum.
  • Divide result by the result minus one.
  • Multiply the resulting number with loan amount and interest rate to find the equated monthly installment amount.


Aman have taken a home loan of $45,32,150 from a bank. The interest rate and loan tenure he has selected are 3% and 52 months. What is the EMI amount he need to pay for the bank every month?


Given that,

Loam amount PV = $45,32,150

Interest rate i = 3% = 0.03/12 = 0.0025

Number of months n = 52

EMI formula is EMI = PV x i x [(1+i)n/((1+i)n-1)]

= 45,32,150 x 0.0025 x [(1+0025)52/((1+0025)52-1)]

= 93,053.38

Therefore, Aman have to pay $93,053.38 as EMI for home loan.

Arithmetic Calculators has got concepts like loan, loan affordability, car loan, home loan, personal loan and many more along with their relevant calculators all one under one roof.

How to Use Car EMI Loan Calculator?

  • Give loan term, loan amount and number of months you have to pay EMI.
  • Click on the calculate button.
  • The EMI amount for given loan will get displayed.

FAQ's on Equated Monthly Installment Loan Calculator

1. How is EMI calculated for loan?

The EMI consists of the principal portion of the loan amount and interest. Add principal amount and interest paid on loan to get the EMI. Give loan amount, loan term and interest rate to know the monthly payment value.

2. What is a personal loan EMI calculator?

Free Personal Loan EMI Calculator is a valuable online tool that gives how much is your equated monthly installment for your loan amount, interest rate and loan term.

3. What is the EMI for 20 lakhs home loan for 20 years?

The monthly EMI for 20 lakhs home loan for 20 years on a 6.7% interest rate is Rs.19,300/-.

4. What is the formula to calculate EMI?

The formula to calculate EMI is EMI = PV x i x [(1+i)n/((1+i)n-1)].