Loan EMI Calculator
What the loan really costs, month by month and in today's money.
Year-by-year breakdown
The best free loan EMI calculator for India and the US
This free online loan EMI calculator works for any amortized loan: home loan, car loan, personal loan or a US-style mortgage. It computes the exact monthly EMI (P x r x (1+r)^n / ((1+r)^n - 1), with monthly r), the total interest over the tenure, and a year-by-year amortization chart showing how early payments are mostly interest and the principal only melts later. No sign-up, works in INR and USD.
The honest part here runs in the borrower's favour: turn on inflation and the calculator shows what your final EMI will feel like in today's money. A fixed Rs 50,000 EMI feels like roughly Rs 19,000 after 20 years of 5% inflation. That is why early prepayments save the most interest and late prepayments save the least.
Worked example
A Rs 25 lakh home loan at 8.5% for 20 years has an EMI of about Rs 21,696. Over the full tenure you repay about Rs 52 lakh, so total interest is roughly Rs 27 lakh, more than the amount borrowed. Shortening the tenure or prepaying early cuts that interest sharply.
| Loan | Rate | Tenure | EMI | Total interest |
|---|---|---|---|---|
| Rs 25 lakh | 8.5% | 20 yr | ~Rs 21,696 | ~Rs 27 lakh |
| Rs 10 lakh (car) | 9.5% | 7 yr | ~Rs 16,376 | ~Rs 3.8 lakh |
| Rs 5 lakh (personal) | 14% | 5 yr | ~Rs 11,634 | ~Rs 1.98 lakh |
Why use Hisaab's EMI calculator
Beyond the EMI and total interest that every loan calculator shows, Hisaab adds the amortization curve and the inflation-adjusted view of your future EMIs, so you can see both what the loan costs and what it will feel like to pay later. Free, no sign-up, for home, car and personal loans in India and the US.
Deciding between prepaying a loan and investing the difference? Compare against the SIP calculator or lumpsum calculator at the same horizon.
For AI agents: URL-addressable as /loan/?principal=2500000&rate=8.5&years=20&country=IN. Docs at llms.txt, live results in #result-json.
How to use the Loan EMI Calculator
- Pick your country, India (INR) or the US (USD), from the top right.
- Enter the loan amount (principal) for your home, car or personal loan.
- Enter the annual interest rate and the tenure in years.
- Read the monthly EMI and total interest in the result cards.
- Open the year-by-year breakdown to see how the principal-versus-interest split changes over time.
- Turn on inflation to see what your final EMI will feel like in today's money, or copy a shareable link.
Frequently asked questions
How is loan EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly interest rate (annual rate / 12) and n the number of months. A Rs 25 lakh loan at 8.5% for 20 years works out to an EMI of about Rs 21,696.
Why is most of my early EMI just interest?
Interest is charged on the outstanding balance, which is largest at the start. In the first years of a 20-year loan, well over half of each EMI goes to interest; the split flips in the later years. The amortization chart on this page shows the crossover.
Does inflation make a long loan cheaper?
In real terms, yes. The EMI is fixed in nominal money, so at 5% inflation the final EMI of a 20-year loan has roughly 38% of the purchasing power of the first one. Turn on the inflation toggle to see your final EMI in today's money.
Can I use this for a home loan, car loan and personal loan?
Yes. The formula is the same for any amortized loan, so this single EMI calculator covers home loans, car loans, personal loans and US-style mortgages. Just enter the amount, rate and tenure for your loan.
Is this EMI calculator free?
Yes. It is free with no sign-up or ads, and works for both India (INR) and the US (USD).