Loan EMI calculator
Loan amount, interest rate and tenure. See the EMI, the total interest, and how much of the first year's EMIs goes to interest.
- Business or machinery loan
- Comparing two loan offers
- Employee home or car loan
Loan
EMI
General information, not legal or tax advice. Rules change and differ by state; check with your CA or labour consultant before you act. Everything you type stays in your browser.
Made for people like you
How to use it
- Enter the loan amount.
- Enter the interest rate and tenure.
- See the EMI, total interest and the first year's split.
Good to know
How EMI is worked out
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r the monthly rate and n the number of months.
Early EMIs are mostly interest
In the first years most of each EMI pays interest. Prepaying early saves the most interest.
Compare the full cost
Add processing fees and insurance to compare offers. The lowest rate is not always the cheapest loan.
An estimate
Banks may round, use daily interest or charge fees. Your loan agreement is the final word.
Questions people ask
Is it free? Do I need to sign up?
Yes, it is free and you do not need to sign up. Open it and use it as often as you like.
Is my data safe?
The numbers are worked out in your browser. Nothing you type is sent to USR unless you choose to email yourself the result.
How accurate is the result?
It is an estimate based on the rules shown on this page as of November 2026, not legal or tax advice. Rules and rates change, so check with your CA before you act.
Is this the bank's exact EMI?
It is close. Banks may round or charge fees; your loan agreement is final.
How do I save interest?
Prepay early in the loan, when most of each EMI is interest, if your loan allows it.
Track loans and EMIs in your books
USR Books records each EMI, splits interest and principal, and shows the balance owed.
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