Loan Payment (EMI) Calculator

Q: "What is EMI?"

"Equated Monthly Installment: fixed monthly payment that pays off principal and interest over the loan term."

Q: "What is the formula?"

"PMT = P × [r(1+r)^n] / [(1+r)^n − 1], where P = principal, r = monthly rate, n = number of months."

Q: "How do I convert annual rate to monthly?"

"Monthly rate = annual rate / 12 (as decimal). Example: 6% per year → 0.06/12 = 0.005 per month."

Q: "Does this include fees or insurance?"

"No. This is principal and interest only. Add fees or insurance separately if needed."

Q: "What currency?"

"Enter principal in your currency. Payment is in the same unit per month."

Calculate monthly payment (EMI) from principal, annual rate, and term in years. Example: $20000, 6%, 5 years → ~$387/month. Copy result.

Loan payment (EMI) is the monthly payment to repay a principal at a given annual interest rate over a term (years). Enter principal, annual rate (%), and term (years). The calculator gives the monthly payment. Formula: PMT = P × [r(1+r)^n] / [(1+r)^n − 1] with monthly rate and months. Copy the result or Copy with labels.

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Examples

$20000, 6% per year, 5 years → ~$387/month
€100000, 4% per year, 20 years → ~€606/month
$15000, 8% per year, 3 years → ~$470/month

FAQ

What is EMI?

Equated Monthly Installment: fixed monthly payment that pays off principal and interest over the loan term.

What is the formula?

PMT = P × [r(1+r)^n] / [(1+r)^n − 1], where P = principal, r = monthly rate, n = number of months.

How do I convert annual rate to monthly?

Monthly rate = annual rate / 12 (as decimal). Example: 6% per year → 0.06/12 = 0.005 per month.

Does this include fees or insurance?

No. This is principal and interest only. Add fees or insurance separately if needed.

What currency?

Enter principal in your currency. Payment is in the same unit per month.