EMI Calculator – Separate Tool from Zakat
This EMI Calculator is a standalone financial planning tool completely unrelated to Zakat. It helps you estimate monthly loan payments for personal or business loans. If you are looking for Zakat calculation, please visit our main Zakat Calculator.
EMI Calculator - Plan Your Loan Payments
An Equated Monthly Installment (EMI) calculator helps you understand the exact monthly payment for any loan. Plan your finances with precision and get a complete amortization schedule showing how your principal and interest break down over time.
What is EMI?
EMI stands for Equated Monthly Installment. It's a fixed payment you make every month to repay a loan. Each EMI payment includes both principal (the original loan amount) and interest, calculated to ensure you fully repay the loan by the end of your tenure.
Our EMI calculator uses the standard amortization formula to provide accurate results for personal loans, auto loans, mortgages, and business financing.
Why Use This Calculator?
Planning a loan requires understanding its true cost. Our calculator helps you visualize your loan repayment journey, compare different loan terms, and make informed financial decisions before committing to a loan.
Get instant results with a detailed breakdown showing total interest, payment schedules, and export capabilities for your records.
How to Use This EMI Calculator
- Enter Loan Amount: Input the principal loan amount you're borrowing
- Set Interest Rate: Enter the annual interest rate (as a percentage)
- Choose Loan Duration: Select tenure in months or years
- View Results: Get your monthly EMI, total interest, and total payable amount instantly
- Analyze Schedule: Review the detailed amortization table showing payment breakdown month by month
- Export Data: Download the complete schedule as an Excel file for your records
What's Included in Each EMI
- • Principal Component: Portion that reduces your loan balance
- • Interest Component: Cost of borrowing the money
- • Principal grows over time: Early payments have more interest
- • Interest reduces over time: Later payments have more principal
Pro Tips for Loan Planning
- • Compare EMIs across different tenure periods
- • Understand the impact of interest rate changes
- • Plan your budget before taking the loan
- • Explore early repayment benefits
Also interested in Islamic finance? Check out our Zakat calculator to plan your yearly charitable giving.
Calculate Your EMI Now
Enter your loan details below to get instant calculations and a complete payment schedule.
Enter your loan details and click Calculate to see your EMI breakdown.
Understanding EMI Calculations
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender on a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off.
How is EMI Calculated?
EMI is calculated using the formula: EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1], where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12 months), and n is the number of monthly installments.
Factors Affecting EMI
- Loan Amount: Higher principal means higher EMI
- Interest Rate: Higher rates increase the EMI amount
- Tenure: Longer tenure reduces EMI but increases total interest
Tips for Managing Loans
- Choose a tenure that balances affordable EMI with reasonable interest costs
- Consider making prepayments to reduce the principal and save on interest
- Compare interest rates from multiple lenders before committing
- Ensure your EMI doesn't exceed 40-50% of your monthly income