Loan EMI Calculator

EMI is the fixed monthly payment made to repay a loan over time including interest.

A longer loan term reduces the monthly EMI but increases the total interest paid over the life of the loan. Conversely, a shorter term increases monthly EMI but reduces total interest.

EMI is the fixed monthly installment you pay, while the total payment is the sum of all EMIs over the entire loan term, which includes both principal repayment and total interest.

Yes, making extra prepayments reduces the outstanding principal faster, which lowers total interest. The advanced mode in this calculator lets you see how much interest you save with monthly prepayments.