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# Loan EMI calculator

Get the monthly EMI, total interest, and a month-by-month amortization schedule for any reducing-balance loan, from sliders or typed numbers.

Enter a loan to see the instalment plan.

The instalment is the standard reducing-balance formula, P x r x (1+r)^n / ((1+r)^n - 1) with r the monthly rate, charged monthly on the outstanding balance. The schedule runs at full precision and folds any rounding into the last instalment, so principal always closes the balance out to exactly zero. It assumes a fixed rate for the whole term; floating rates, prepayments, processing fees, insurance and taxes are not modelled here.
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## More unit & math tools

- [Average and median](/converters/statistics)
- [Unit converter](/converters/units)
[All unit & math tools](/converters)

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