EMI Calculator — Free Loan EMI Calculator Online
Work out your monthly EMI, total payment and total interest for any loan — then see the full amortisation table month by month, or compare two loans and pick the cheaper one. Free, instant, no sign-up.
✦ Free forever • No sign-up • Exact EMI formula • PKR & USD
◆Monthly EMI calculator
Type your loan amount, annual interest rate and tenure — get your monthly EMI, total payment and total interest, with the formula shown so you can check it.
Example:
◆Amortisation table — month by month
After you calculate your EMI, this table shows every month: how much of the EMI is interest, how much pays off the principal, and the balance left. Download it as a CSV file to keep or share.
| Month | EMI | Interest part | Principal part | Balance left |
|---|
◆Compare 2 loans — which one is cheaper?
Enter two loan offers — different amounts, rates or tenures — and see their EMIs and total interest side by side. The loan with the lower total interest is highlighted as the cheaper one.
Loan A
Loan B
Example:
How to use the EMI calculator
Three steps: type your loan amount, annual interest rate and tenure, press Calculate EMI, and read your monthly EMI, total payment and total interest. Then press “Show amortisation table” to see every month of your loan, or use the compare tool to test two offers side by side. Read the full step-by-step guide with worked examples →
Why use this EMI calculator?
✓ The exact EMI formula, shown with every answer
EMI = P x r x (1+r)^n / ((1+r)^n - 1). Every result shows the formula and the numbers behind it — for example, 1,000,000 at 12% for 5 years gives an EMI of 22,244.45 — so you can check the maths yourself.
✓ Full amortisation table, downloadable as CSV
See every month of your loan: interest part, principal part and balance left. The first month of the example is 10,000 interest and 12,244.45 principal, leaving 987,755.55 — and the last month leaves a balance of zero.
✓ Compare 2 loans and spot the cheaper one
Two offers side by side, with the lower total interest highlighted. A lower rate usually beats a longer loan — for example, 10% instead of 12% on the same loan saves 59,844.18 in interest.
✓ PKR and USD
Amounts shown in Pakistani rupees (Rs) or US dollars ($). The maths is the same in any currency — only the label changes.
✓ Free forever
No account, no sign-up, no limits, no fees. Calculate as many loans as you like, on any device.
✓ Nothing is stored
Your loan figures never leave your browser. Every calculation happens on your own device — nothing is sent to any server.
Guides — calculate EMI like a pro
◆ How to Calculate EMI on a Loan
The exact EMI formula, worked out step by step with a 1,000,000 loan at 12% for 5 years, a table of EMI examples at different rates and tenures, and five tips that actually lower your EMI.
◆ Try the calculators above
All three calculators are free and instant — monthly EMI, the full amortisation table and the 2-loan compare, each with a worked example you can tap to try.
Calculate your loan EMI, free
Before you take a loan, you need to know one number: the monthly EMI. This free EMI calculator works it out exactly with the standard formula — EMI = P x r x (1+r)^n / ((1+r)^n - 1) — where P is the loan amount, r is the monthly interest rate and n is the number of monthly payments. For example, a loan of 1,000,000 at 12% a year for 5 years (60 months) has an EMI of 22,244.45 per month, a total payment of 1,334,666.86 and total interest of 334,666.86. Every answer shows the formula and the numbers behind it, so you can check the maths yourself.
The calculator also builds the full amortisation table for your loan: every month, how much of your EMI is interest, how much pays off the principal, and what balance is left. In the first month of the example above, 10,000 of the EMI is interest and 12,244.45 is principal, leaving a balance of 987,755.55 — and by the last month the balance reaches zero. You can download the whole table as a CSV file to keep or share. A third tool compares two loan offers side by side — different amounts, rates or tenures — and highlights the one with the lower total interest, so you can see at a glance which loan is really cheaper. Amounts can be shown in Pakistani rupees (PKR) or US dollars (USD). Everything is free and nothing is stored: no sign-up, no install, no account. All calculations run in your browser — your loan figures are never sent to any server. For step-by-step help with the formula and worked examples, read the free guide on how to calculate EMI on a loan.
Frequently asked questions
How is EMI calculated?
EMI is calculated with the standard formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12) and n is the number of monthly payments. For example, a loan of 1,000,000 at 12% a year for 5 years (60 months) has a monthly rate of 1%, so the EMI is 22,244.45 per month, the total payment is 1,334,666.86 and the total interest is 334,666.86. The calculator shows the formula with every answer, so you can check it yourself.
What is the difference between EMI, total payment and total interest?
Your EMI is the fixed amount you pay every month. Total payment is your EMI multiplied by the number of months — the full amount you hand over by the end of the loan. Total interest is the total payment minus the loan amount — the cost of borrowing. For a 1,000,000 loan at 12% for 5 years, the EMI is 22,244.45, the total payment is 1,334,666.86 and the total interest is 334,666.86. A longer loan lowers your EMI but raises the total interest you pay.
Why is the interest part higher in the first months?
Each EMI is made of two parts: interest and principal. The interest part is charged on the balance you still owe, so it is biggest in the first month — on a 1,000,000 loan at 12%, the first month's interest is 10,000 and only 12,244.45 of the EMI goes to the principal. As the balance falls, the interest part shrinks and more of each EMI pays off the principal. By the last month, almost the whole EMI is principal. The amortisation table on this page shows this month by month.
How can I lower my EMI?
Three ways: borrow less, find a lower interest rate, or take a longer loan. A lower rate helps the most — it cuts both your EMI and your total interest. A longer loan cuts your EMI but raises the total interest, so it costs more in the end. Paying a bigger down payment (borrowing less) cuts both. Use the compare tool to test two offers side by side before you choose.
Should I choose a shorter or a longer loan?
A shorter loan has a higher monthly EMI but much less total interest — you pay less overall and finish sooner. A longer loan has a lower EMI, which is easier each month, but you pay far more interest in total. Pick the shortest loan whose EMI you can comfortably afford every month. The calculator shows both numbers, so you can weigh the monthly cost against the total cost.
Is the EMI shown here exactly what my bank will charge?
No — the EMI here is calculated from the numbers you type only. A real bank EMI can differ because of processing fees, insurance, taxes, or a rate that changes during the loan. Always check the final EMI, fees and terms with your bank before you borrow. This calculator is a planning tool, not a loan offer.
Is this EMI calculator really free?
Yes. EMI Calculator is 100% free. There is no account, no sign-up, no limit and no fee — calculate as many loans as you like, on any device. Your loan figures never leave your browser.
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