EMI Calculator
Calculate your monthly loan EMI, total interest and total payable amount instantly. Useful for home loans, car loans, personal loans, education loans and business loans.
Calculate EMI
Enter loan amount, interest rate and tenure.
Find the estimated monthly installment for your loan.
Understand how much interest you may pay over the complete loan tenure.
Compare different loan amounts, interest rates and repayment periods.
Free Online EMI Calculator
Apna Network EMI Calculator is a free online financial calculator that helps you estimate the monthly EMI of a loan. Enter the loan amount, annual interest rate and repayment tenure to calculate your estimated monthly installment, total interest and total repayment amount.
The calculator can be used for different types of loans including home loans, car loans, bike loans, personal loans, education loans and business loans.
How to Use the EMI Calculator
- Enter the amount you want to borrow.
- Enter the annual interest rate.
- Enter the loan repayment tenure in years.
- Click the Calculate EMI button.
- View your monthly EMI, total interest and total payment.
EMI Formula
The standard EMI formula is:
EMI = P × R × (1 + R)N / ((1 + R)N − 1)
Where P represents the principal loan amount, R represents the monthly interest rate and N represents the total number of monthly installments.
The annual interest rate is converted into a monthly rate before performing the calculation.
What Does EMI Include?
A typical loan EMI consists of two components: principal repayment and interest. During the early part of many amortizing loans, a larger portion of each payment goes toward interest. As the loan balance decreases, a larger portion goes toward principal.
EMI Calculator for Different Loans
Home Loan EMI Calculator
Estimate monthly repayments for a home loan by entering the expected loan amount, interest rate and tenure.
Car Loan EMI Calculator
Calculate estimated monthly car loan payments and compare different loan amounts and repayment periods.
Personal Loan EMI Calculator
Estimate the monthly installment and total interest for a personal loan.
Education Loan EMI Calculator
Use the calculator to estimate repayments for an education loan based on the expected loan amount, interest rate and tenure.
Why Use Apna Network EMI Calculator?
- Free to use.
- No registration required.
- Instant calculations.
- Indian Rupee formatting.
- Number inputs and sliders.
- Works on mobile, tablet and desktop.
- Supports zero-interest calculations.
- Useful for multiple types of loans.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Instalment. It is the amount paid by a borrower every month toward repayment of a loan, including principal and interest.
How is EMI calculated?
EMI is calculated using the principal amount, monthly interest rate and total number of monthly installments.
Can I use this calculator for a home loan?
Yes. You can use this calculator for home loans, car loans, bike loans, personal loans, education loans and business loans.
Is the EMI Calculator free?
Yes. Apna Network EMI Calculator is free to use and does not require registration.
Can I calculate EMI for a zero-interest loan?
Yes. When the interest rate is zero, the calculator divides the principal amount by the total number of monthly installments.