EMI Loan Calculator
Calculate Equated Monthly Installments for personal loans, car loans, and education loans. View total interest cost and amortization schedule.
Get a Personal Loan with Low Interest
Rates as low as 5.99% APR for qualified borrowers. Check your rate without affecting your credit score.
Check My Rate →Loan Details
💡 Pro Tip
Increasing your EMI by just 10% can significantly reduce your total interest and loan duration.
Your Monthly EMI
| Year | Principal | Interest | Balance |
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Compare Personal Loan Offers
*Rates and terms vary based on creditworthiness. Check your personalized rate without affecting your credit score.
| Lender | APR Range | Loan Terms | Best For | Action |
|---|---|---|---|---|
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SoFi
No fees required
|
8.99% – 25.81% | 2 – 7 years | Good credit, high amounts | Apply Now |
|
Upgrade
Fast funding
|
8.49% – 35.99% | 2 – 7 years | Fair credit, quick approval | Apply Now |
|
LendingPoint
Next-day funding
|
7.99% – 35.99% | 2 – 6 years | Bad to fair credit | Apply Now |
Improve Your Credit Score First?
A higher credit score (700+) can save you thousands in interest. Check your score free and get tips to improve it before applying.
Check Credit Score Free →What is EMI?
EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. It includes both principal and interest components, calculated using the reducing balance method.
How to Reduce Your EMI
1) Increase down payment to reduce principal, 2) Improve credit score for lower rates, 3) Choose shorter tenure (higher EMI but less interest), 4) Make prepayments when possible, 5) Balance transfer to lower rate lenders.
Fixed vs Floating Interest
Fixed rates remain constant throughout the loan term, providing predictable payments. Floating rates change with market conditions (usually tied to prime rate), potentially offering savings when rates drop but risk when they rise.
Prepayment Strategy
Paying just one extra EMI per year can reduce your loan tenure by 20-30% and save significant interest. Use our calculator to see the impact of additional payments on your specific loan terms.