EMI Calculator
Estimate a monthly EMI from amount, rate, and tenure. Home, car, and personal use the same reducing-balance formula.
Online EMI Calculator
Looking for an EMI calculator, loan calculator, or home loan EMI tool? Toolshelf estimates the monthly installment from principal, annual rate, and tenure — with total interest, total payable, and an optional amortization schedule. No signup and no uploads.
What you can do
- Calculate monthly EMI from amount, rate, and tenure
- See total interest and total payable
- Optional amortization schedule with CSV download
- Home, car, and personal loans use the same reducing-balance formula
- 0% interest splits principal evenly across months
- Draft stays in this browser — nothing is uploaded
How to use the EMI calculator
- Enter the loan amount, annual interest rate, and tenure.
- Optionally pick Home, Car, Personal, or Other — labels only, same math.
- Read monthly EMI and totals. Copy the summary if you need it.
- Turn on amortization to scroll the schedule and download CSV.
Frequently asked questions
- What is an EMI calculator?
- An EMI calculator estimates the equated monthly installment for a reducing-balance loan from principal, annual interest rate, and tenure. This page also shows total interest, total payable, and an optional amortization table.
- What formula does this EMI calculator use?
- Monthly rate i = annual rate ÷ 12 ÷ 100. For i > 0, EMI = P × i × (1+i)^n ÷ ((1+i)^n − 1), then rounded to 2 decimal places (half-up). The last schedule row is adjusted so closing balance is exactly 0.
- What happens at 0% interest?
- EMI is principal divided by the number of months (half-up to 2 decimals). Each installment is principal-only. Rounding leftover paise is absorbed in the last row so the loan still closes at 0.
- Is this reducing-balance or a flat rate?
- Reducing-balance only. A flat-rate quote from a lender can look lower per month but cost more overall. This tool does not switch formulas for home, car, or personal chips.
- Is this a bank sanction letter?
- No. It is an estimate. Banks may add processing fees, use a different day-count, or quote a flat rate. Toolshelf does not fetch live interest rates or check CIBIL eligibility.
- Does my loan data leave the browser?
- No. Math runs locally. A draft can stay in this browser’s local storage so refresh does not wipe the job. Amounts are not put in the URL.
- Where is GST or a percentage of a number?
- GST on a price is a different job from a monthly installment. Generic “what is 18% of 2500” is also not EMI. Need a PDF bill instead? Use the Invoice Generator.
Examples
12-month home loan
Enter 10,00,000 at 10% for 1 year. Monthly EMI is 87,915.89 with closing balance 0 on the last row.
Zero-interest split
Set rate to 0% to divide principal evenly across the tenure. The last row absorbs leftover paise.
Limitations
- Estimate only — not a bank quote, live rate, or CIBIL check.
- Reducing-balance formula only (not flat rate).
- Principal max 10 billion; tenure max 360 months; rate max 50%.
What would you like to do next?
Continue working with the next step in this workflow. Recently used tools in this set are listed first.
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You may also need
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