Equated Monthly Installment (EMI) Calculator

Calculate your Equated Monthly Installment for any loan

EMI Calculator

Loan Amount

Principal loan amount

Interest Rate

Live from Federal Reserve (Live RSS when available): 12.64% personal loans (updated 2025-07-26)

Loan Tenure

Years

Loan repayment period

Central Bank vs EMI Lending Rates

Fed (Federal Reserve) rate: 4.33% - this is the US central bank's federal funds rate that sets the baseline for all American interest rates. However, EMI loan rates are 6.49-35.99% (avg 12.64% from Chase, BofA). US EMI loans include an 8%+ margin above the Fed rate because banks must cover credit risk, administrative expenses, and profit margins on installment lending.

Common Loan Types

Car Loan

Rate: 6-8% | Term: 3-7 years

Personal Loan

Rate: 12-18% | Term: 2-7 years

Home Loan

Rate: 6.5-7.2% | Term: 15-30 years

Understanding EMI

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month.

EMI Components:

Principal: The original loan amount
Interest: The cost of borrowing
Tenure: The repayment period

Loan Tips:

Loan amount - Higher amount means higher EMI
Interest rate - Higher rate increases EMI
Tenure - Longer tenure reduces EMI but increases total interest