Monthly EMI:
Total Interest Payable:
Total Payment:
| Year | Principal | Interest | Total Payment | Remaining Balance |
|---|
Emi calculator - Planning to take a loan for your home, car, bike, education or even personal expenses? Understanding how EMI (Equated Monthly Installment) works can save you from future surprises. With our online EMI calculator that also shows the detailed split between interest and principal, you can plan your finances in advance and decide exactly what fits into your budget.
EMI stands for Equated Monthly Installment – a fixed payment you make every month to your bank or financial institution until your loan is fully repaid. Every EMI has two components:
In the initial years, a larger share of your EMI goes towards paying interest. As the months pass, this portion gradually reduces, and more of your payment goes towards repaying the principal amount. This gradual shift is known as loan amortization.
Banks and lenders generally use the following standard formula to calculate EMI:
EMI = [P × r × (1 + r)n] / [(1 + r)n – 1]
Example: If you borrow ₹5,00,000 at 10% annual interest for 5 years (60 months), your EMI will be approximately ₹10,623 per month.
Instead of doing complex math or using old-fashioned spreadsheets, our EMI calculator gives you results instantly and visually breaks down how much of each payment goes towards interest and how much towards the principal. This allows you to:
SmartCalcZone’s EMI calculator includes an integrated live exchange rate feature. If your income is in one currency but your loan is in another – say you earn in INR but have a USD, AED, or EUR loan – you’ll instantly see the converted EMI. Perfect for:
This tool is designed for everyone – salary earners, business owners, consultants, or students. If you have a loan in mind, this tool will help you plan ahead:
Our calculator easily compares loans across currencies to give you a clear global perspective. Example – ₹10,00,000 loan (approx $12,000) for 5 years at 10% interest:
| Currency | Currency Symbol | Exchange Rate (Approx) | Monthly EMI | Total Interest Payable |
|---|---|---|---|---|
| Indian Rupee | ₹ | 1 INR | ₹21,247 | ₹2,74,820 |
| US Dollar | $ | 1 USD ≈ ₹83 | $256 | $3,310 |
| Euro | € | 1 EUR ≈ ₹90 | €236 | €3,053 |
| British Pound | £ | 1 GBP ≈ ₹105 | £202 | £2,610 |
| Japanese Yen | ¥ | 1 JPY ≈ ₹0.55 | ¥38,630 | ¥5,00,500 |
While highly accurate, our EMI tool still gives estimates and does not include:
EMI is a fixed monthly amount you pay to repay your loan over the agreed term, covering both principal and interest.
Yes, while the EMI remains constant, the share of interest and principal inside each payment changes over time.
Absolutely free to use – no sign-up required.
Yes. Choose your currency and the EMI will be shown in that currency using live exchange rates.
No, this is a neutral calculation tool designed for financial planning only.
Before committing to a loan, spend a few minutes planning. A well-calculated EMI can help you avoid financial stress in the future. Whether it’s your dream home, a new car, quality education, or expanding your business, the right calculation today can make tomorrow worry-free.
Try it now – quick, free, and built to simplify your decisions.
