Loan EMI
Calculate your Equated Monthly Instalment (EMI) for a loan or mortgage.
Results
What is it?
An Equated Monthly Instalment (EMI) is the fixed amount you pay each month to repay a loan. It includes both principal repayment and interest, calculated using the standard annuity formula so each payment is identical throughout the loan term.
How to use
Enter the total loan amount, the annual interest rate offered by your lender, and the loan duration in years. The calculator shows your fixed monthly payment, total amount paid over the loan life, and how much of that is interest.
Example scenario
A $250,000 mortgage at 6.5% annual interest over 30 years results in a monthly EMI of approximately $1,580. Over 30 years, you pay around $569,000 total, meaning roughly $319,000 goes to interest.
Pro tip
Even a small rate reduction makes a big difference. Dropping from 7% to 6.5% on a $250,000 30-year mortgage saves over $60 per month. Always negotiate your rate and consider refinancing when rates drop.