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EMI Calculator FREE

Calculate monthly EMI, total interest and amortisation schedule for home loan, car loan or personal loan online free. Instant results. No sign-up.

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EMI Calculator

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Monthly EMI

Principal

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Total Interest

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Total Amount

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Amortisation Schedule (First 12 months)

MonthEMIPrincipalInterestBalance

Frequently Asked Questions

EMI stands for Equated Monthly Instalment. It is the fixed monthly payment that a borrower makes to a lender to repay a loan over a specified tenure. Each EMI contains two components: a principal repayment portion and an interest payment portion. In the early months of a loan, the interest portion is higher and the principal portion is lower. As the loan matures, the interest portion decreases and the principal repayment increases, following the amortisation pattern.
The EMI formula is: EMI = P x R x (1+R)^N / ((1+R)^N - 1), where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12 and divided by 100), and N is the total number of monthly instalments. This formula calculates the fixed payment amount that perfectly pays off the principal plus all accrued interest over exactly N months.
An amortisation schedule is a complete table showing each monthly payment broken down into its principal and interest components, along with the remaining loan balance after each payment. It helps borrowers see exactly how much of each payment goes towards reducing the principal versus paying interest, and when the loan will be fully paid off. This tool shows the first 12 months as a preview.
Three factors primarily determine total interest: the loan amount (higher principal means more interest), the interest rate (even 0.5% difference over 20 years changes total interest significantly), and the loan tenure (longer tenure means lower EMI but much more total interest paid). This calculator lets you adjust all three to compare different scenarios.
This calculator uses the reducing balance method, which is the standard for most modern loans. Interest is charged only on the outstanding balance remaining after each EMI payment, so as you repay principal, the interest charge reduces. A flat rate charges interest on the original principal amount for the entire tenure, making it significantly more expensive. Always confirm which method your lender uses.

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Free EMI Calculator Online — Calculate Monthly EMI for Home, Car and Personal Loans

An EMI (Equated Monthly Instalment) calculator is an essential financial planning tool for anyone considering a loan. Whether you are planning a home purchase, a car loan, a personal loan, or a business loan, understanding your monthly obligation before committing is critical to sound financial decision-making. The EMI Calculator on OneDocPDF uses the standard reducing balance formula to calculate your exact monthly instalment, total interest payable over the loan tenure, and the complete amortisation schedule showing how each payment is split between principal and interest.

The EMI formula accounts for the time value of money and the compounding of interest on the outstanding balance. For a home loan of 400,000 at 4.5% for 25 years, the monthly EMI is approximately 2,220. Over 25 years, the total payment is 666,000, meaning 266,000 goes to interest — 66.5% of the original principal. Understanding this early helps borrowers make informed decisions about larger down payments, shorter tenures, or overpayments to reduce total interest. Even increasing the monthly payment by 10% can reduce a 25-year mortgage to approximately 21 years.

For broader financial calculations, see our Discount Calculator for price comparisons, our Percentage Calculator for proportional calculations, and our Scientific Calculator for complex mathematical operations. All tools are free, browser-based, and fully private.