Use the Free Tool Mart Free Loan EMI Calculator to calculate monthly EMIs, total interest, and repayment schedule. Accurate, fast, mobile-friendly tool for all loans.
Use the Free Tool Mart Free Loan EMI Calculator to calculate monthly EMIs, total interest, and repayment schedule. Accurate, fast, mobile-friendly tool for all loans.
| Month | EMI | Interest | Principal | Balance |
|---|
Type in the principal loan amount you want to borrow.
Input the bank’s interest rate and the duration of your loan.
Instantly view your monthly EMI, total interest payable, and overall repayment amount.
Our Free Loan EMI Calculator helps you calculate your monthly installments (EMIs), total interest payable, and repayment schedule in just a few clicks. Whether you are applying for a home loan, car loan, education loan, or personal loan, this tool gives you accurate results instantly. It works online, requires no downloads, and is fully mobile-friendly.
The Free Loan EMI Calculator is more than just a math tool. It helps borrowers understand their repayment schedule, plan budgets, and compare multiple loans side by side. By adjusting loan amount, interest rate, or tenure, you instantly see how your EMI changes, making financial decisions smarter and stress-free.
A Loan EMI Calculator is a free online tool that helps you quickly calculate the Equated Monthly Installment (EMI) you need to pay on a loan. Instead of doing complex manual calculations, the calculator instantly shows you how much you’ll pay every month, along with the total interest and total repayment amount.
Loan EMI (Equated Monthly Installment) is the fixed amount you pay every month to the bank or financial institution until your loan is fully repaid. The EMI includes both the principal amount (the money you borrowed) and the interest charged by the lender.
In simple terms, EMI breaks down your total loan into easy monthly payments, making it convenient to manage your finances.
The EMI depends on three main factors:
Loan Amount (Principal): The total money you borrow.
Interest Rate: The percentage charged by the bank or lender.
Tenure: The duration of the loan (in months or years).
At Free Tool Mart, you can use our Loan EMI Calculator to:
Instantly calculate your EMI.
See the total interest payable.
Compare repayment options for different loans.
Formula for EMI Calculation is –
P x R x (1+R)^N / [(1+R)^N-1] where-
P = Principal loan amount
N = Loan tenure in months
R = Monthly interest rate
The rate of interest (R) on your loan is calculated per month.
R = Annual Rate of interest/12/100
If you take a loan of ₹10,00,000 at an annual interest rate of 7.2% for a tenure of 120 months (10 years):
Monthly interest rate = 7.2 ÷ 12 ÷ 100 = 0.006
EMI = 10,00,000 × 0.006 × (1 + 0.006)^120 ÷ [(1 + 0.006)^120 – 1]
EMI = 11,714
So, the total amount payable will be:
11,714 × 120 = 14,05,703
Out of this:
Principal: 10,00,000
Interest: 4,05,703
With our Free Loan EMI Calculator, you can plan your monthly budget confidently. Knowing the exact EMI helps you manage income, expenses, and savings while avoiding surprises during repayment.
Compare multiple loan offers from different banks or lenders in just a few clicks. Our calculator shows which option is more affordable, saving time and helping you make smarter financial decisions.
Forget manual formulas and errors — our EMI Calculator gives instant, precise results every time. Whether it’s housing, car, education, or personal loans, the tool ensures hassle-free calculations in seconds.
Yes, the Free Loan EMI Calculator at Free Tool Mart is completely free to use. You can calculate your EMIs unlimited times without any hidden charges, registrations, or subscriptions. This makes it an ideal tool for anyone planning home loans, car loans, education loans, business loans, or personal loans.
Absolutely. The Loan EMI Calculator works for all types of loans including housing loans, vehicle loans, education loans, personal loans, gold loans, and business loans. Just enter the loan amount, interest rate, and tenure, and the calculator instantly provides your monthly installment, total repayment, and interest cost.
The results are highly accurate because the tool is based on the standard EMI formula used by banks and NBFCs. While actual EMI may vary slightly due to factors like processing fees, floating interest rates, or lender-specific charges, our calculator gives you a very close estimate. This helps you plan your loan repayment strategy with confidence.
No downloads or installations are required. The Free Tool Mart EMI Calculator is an online tool that works directly in your web browser. Whether you are on a desktop, laptop, tablet, or mobile phone, you can use it instantly without installing any apps or software.
Yes, you can easily compare multiple loan offers by entering different interest rates and tenures. This helps you understand which bank or financial institution offers the lowest EMI, lowest total repayment, and best loan option for your needs. Many users rely on the Free Tool Mart EMI Calculator before finalizing their lender.
Manual EMI calculation requires complex mathematics, which can be time-consuming and prone to errors. The Free Tool Mart EMI Calculator gives you instant and error-free results within seconds. It also shows you total repayment and interest cost, which helps you make informed financial decisions without confusion.
Currently, the calculator shows your monthly EMI, total repayment amount, and total interest payable. We are also working on adding a detailed amortization schedule (year-wise principal vs interest breakdown) so you can see exactly how your loan balance reduces over time.
Yes, you can use the Loan EMI Calculator for international loans as well. Simply enter the loan amount, annual interest rate, and tenure in months. The calculator works on the standard EMI formula used globally, making it useful for both domestic and international borrowers.
Yes. At Free Tool Mart, we are constantly improving our tools. In the future, we plan to add features like loan amortization charts, prepayment impact calculator, balance transfer comparison, and currency conversion for international loans. This will make the Free Loan EMI Calculator even more powerful and user-friendly.
Better Financial Planning: The Free Loan EMI Calculator helps you plan your monthly budget with exact EMI details.
Quick Loan Comparison: Instantly compare offers from different banks and lenders.
Accurate EMI Calculation: Get error-free results using the standard EMI formula.
Multiple Loan Options: Works for home loans, car loans, personal loans, education loans, and business loans.
Mobile-Friendly Tool: Use the Free Tool Mart EMI Calculator anytime on desktop or smartphone.
Join thousands of users who trust Free Tool Mart for accurate calculations and reliable tools. Start using our free calculators today!
Free Tool Mart provides free online calculators and tools for education and information only. Results are not professional financial, legal, or medical advice. Always verify with experts.
Free Tool Mart provides free online calculators and tools for educational and informational purposes. Results should be verified and are not intended as professional financial, legal, or medical advice. Always consult qualified professionals for important decisions.