EMI Calculator
Calculate your monthly loan EMI, total interest, total repayment, and payoff impact from extra payments.
Loan details
Enter loan amount, rate, tenure, and optional extra payment.
Total loan amount before down payment.
Optional upfront amount subtracted from the loan.
Fixed annual loan rate assumption.
Optional upfront or financed fee estimate.
Optional extra principal payment each month.
Choose years or months for the repayment period.
Monthly EMI
£1,350.41
Fixed monthly EMI before optional extra payment.
Scheduled monthly payment
£1,350.41
EMI plus any extra monthly principal payment.
Principal amount
£200,000
Loan amount after down payment.
Total interest
£205,124
Estimated interest across the payoff schedule.
Total repayment
£405,124
Principal plus estimated interest.
Total with fee
£405,124
Repayment plus optional processing fee.
Tenure
300 months
25 years.
Extra payment savings
£0
0 months saved.
Support
Loan support layer
Formula based
Uses the standard amortized loan formula to calculate fixed monthly EMI.
Estimate only
Results do not guarantee lender terms. Actual schedules may vary due to fees, taxes, and prepayment rules.
Planning focused
Compare tenure, rate, down payment, and extra payment assumptions before borrowing.
Interpretation
What these EMI results mean
Monthly repayment
Your estimated EMI is £1,350.41 per month over 300 months.
Loan principal
The amount used for EMI calculation is £200,000 after subtracting down payment.
Interest cost
Total estimated interest is £205,124, based on a 6.50% annual rate.
Extra payment impact
Adding extra monthly principal payments may reduce total interest and shorten the payoff period.
EMI basics
How EMI works
Principal
Principal is the amount borrowed after subtracting any down payment.
Interest rate
The annual interest rate is converted into a monthly rate for EMI calculation.
Tenure
Tenure is the number of monthly payments used to repay the loan.
Amortization
Early payments usually include more interest, while later payments repay more principal.
Comparison
Short tenure vs long tenure
Shorter tenure
Higher EMI
A shorter tenure usually means a higher monthly payment but lower total interest.
Longer tenure
Lower EMI
A longer tenure usually lowers monthly EMI but increases total interest across the loan.
Breakdown
First year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | £3,302 | £12,903 | £196,698 |
| 2 | £3,523 | £12,682 | £193,174 |
| 3 | £3,759 | £12,446 | £189,415 |
| 4 | £4,011 | £12,194 | £185,404 |
| 5 | £4,280 | £11,925 | £181,124 |
Formula
EMI formula explanation
EMI
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)P is principal, r is monthly interest rate, and n is the total number of monthly payments.
Monthly rate
Monthly Rate = Annual Rate ÷ 12The annual loan rate is converted into a monthly rate for the EMI formula.
Total interest
Total Interest = Total Repayment − PrincipalTotal interest estimates how much extra is paid above the borrowed principal.
FAQ
EMI calculator questions
An EMI calculator estimates the fixed monthly payment needed to repay a loan over a selected tenure at a fixed annual interest rate.