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EMI Calculator Online — Free Tool

Calculate Equated Monthly Installment (EMI) for any loan—enter amount, interest rate, and tenure to see monthly payment, total interest, and payoff summary.

Uses ISO 4217 currency codes. If you need another currency, tell me and I’ll add it.
PKR
%
This calculator estimates fixed monthly installments (EMI) assuming a constant interest rate.

Result

Monthly payment
PKR 25,447.90
Total interest
PKR 110,749.63
Total paid
PKR 610,749.63
Term
24 months
Total
610,750
Principal81.9%
Total Interest18.1%

Payment breakdown (first 12 months)

Month
Payment
Principal
Interest
Balance
1
PKR 25,447.90
PKR 17,114.57
PKR 8,333.33
PKR 482,885.43
2
PKR 25,447.90
PKR 17,399.81
PKR 8,048.09
PKR 465,485.62
3
PKR 25,447.90
PKR 17,689.81
PKR 7,758.09
PKR 447,795.81
4
PKR 25,447.90
PKR 17,984.64
PKR 7,463.26
PKR 429,811.18
5
PKR 25,447.90
PKR 18,284.38
PKR 7,163.52
PKR 411,526.79
6
PKR 25,447.90
PKR 18,589.12
PKR 6,858.78
PKR 392,937.67
7
PKR 25,447.90
PKR 18,898.94
PKR 6,548.96
PKR 374,038.73
8
PKR 25,447.90
PKR 19,213.92
PKR 6,233.98
PKR 354,824.81
9
PKR 25,447.90
PKR 19,534.15
PKR 5,913.75
PKR 335,290.66
10
PKR 25,447.90
PKR 19,859.72
PKR 5,588.18
PKR 315,430.93
11
PKR 25,447.90
PKR 20,190.72
PKR 5,257.18
PKR 295,240.21
12
PKR 25,447.90
PKR 20,527.23
PKR 4,920.67
PKR 274,712.98
Tip: If interest rate is 0%, monthly payment becomes \(loan amount / months\). For partial prepayments, we can add an advanced mode later.

Formula

EMI
\(EMI = P \cdot r \cdot (1+r)^n / ((1+r)^n - 1)\)
Where \(P\) = principal, \(r\) = monthly rate, \(n\) = number of months.
Values shown: monthly rate = 1.67%, months = 24.
Privacy note: All processing happens entirely in your browser. No data is sent to our servers.

About this tool

EMI (Equated Monthly Installment) is the fixed payment you make each month on a loan. This general-purpose calculator works for personal loans, education loans, equipment finance, or any amortizing debt—enter principal, annual rate, and tenure to see payment and total interest.

As the canonical EMI tool on this site, it focuses on clear monthly payment math and total cost of borrowing without tying results to a single loan product.

Common use cases

  • Estimating monthly payment before applying for any loan
  • Comparing rate offers from different lenders on equal terms
  • Seeing total interest paid over the full tenure
  • Quick what-if on tenure versus affordability

How to use

  1. Enter loan amount (principal) you plan to borrow.
  2. Set annual interest rate and loan tenure in months or years.
  3. Review monthly EMI, total payment, and total interest.
  4. Adjust tenure or rate to find a payment that fits your budget.

This page is available at /tools/emi-calculator/.

Understanding the result

  • EMI stays constant in standard amortization; principal portion rises and interest portion falls each month.
  • Total interest grows quickly with longer tenures even if EMI drops.
  • A lower rate reduces EMI and total interest more than shortening tenure alone in some cases—compare both.
  • This is an estimate; lenders may add fees, insurance, or use different day-count conventions.

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Read: How to Calculate EMI →

FAQ

What is the EMI formula?

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is monthly rate, n is months.

Does EMI include insurance or processing fees?

Usually not. Enter principal net of down payment; add fees separately if quoted.

Can I use this for home loans?

Yes. For amortization tables focused on property loans, see Loan & EMI Calculator—but math is the same.

What if I prepay part of the loan?

Prepayment reduces principal and interest. This tool models standard schedule without prepayment unless supported.