EMI Calculator for Home, Car, Business and Personal Loan

Updated on June 16, 2022, 2:35 p.m.

Equated Monthly Installment (EMI) is a periodic repayment of any loan taken from financial institution. You can calculate EMI for any loan using this EMI calculator. You can calculate EMI for personal loan, vehicle loan, business loan or home loan.
You can use this EMI calculator to know about your monthly payment liability and also generate EMI payment statement.

EMI Calculator

Loan Amount(Principal)
Interest Rate
Months

EMI Calculation

EMI Value

Total Payment

Total Interest Payment

Loan Repayment Schedule

Months	Principal Repayment	Interest Payment	Outstanding Loan

EMI Calculation Formula

Equated Monthly Installment or EMI is a repayment scheme under which entire loan along with interest is repaid in equal installments. Every month or quarter, whatever you pay will be equal throughout the loan tenure.

EMI is calculated using following formula.

EMI = Principal x Interest Rate x (1 + Interest Rate)^Tenure) / ((1 + Interest Rate)^Tenure-1)

Tenure is loan period in months.

EMI Calculator for Home Loan, Personal Loan, Vehicle Loan and Business Loan

You can use this EMI calculator to calculate EMI for any type of loan. Whether you are going for home loan, car loan, business loan or education loan. Basically, any loan you take it will have 3 key components. Principal, Interest Rate and Tenure or loan. EMI is calculated using this factors.

You can use this EMI calculator for:

Home Loan EMI calculator
Personal Loan EMI calculator
Vehicle Loan EMI calculator
Business Loan EMI calculator
Education loan EMI calculator

You can use this calculator for EMI calculation on any loan from banks like SBI, HDFC, ICICI, Axis and it works perfectly for NBFC loans also.

You can use this calculator to check:

Car finance repayment calculator
Truck finance repayment calculator
Home loan repayment calculator
Business loan repayment calculator
Personal loan repayment calculator

Making EMI Calculator with Jquery/JavaScript

EMI calculator at Banking91 is made using Jquery. You can make a calculator yourself using Javascript or Jquery.

Here is the code to generate a EMI calculator using Jquery.

##First Create HTML form to input principal, rate and period.
## You can avoid this if have a form to get data from user.

<div id="printablecontent">
<div class="row" style="background-color: #f7f9ff;padding: 10px;">
<h2 style="text-align:center;">EMI Calculator</h2>
<table>
  <tr><td>Loan Amount(Principal)</td><td><input type="number" name="form-name-principal" id="form-principal" placeholder="How much loan you have?" value=100000></td></tr>
  <tr><td>Interest Rate</td><td><input type="number" name="form-name-interest" id="form-interest" placeholder="Interest percentage" value="11"></td></tr>
  <tr><td>Months</td><td><input type="number" name="form-name-month" id="form-month" placeholder="For how many months you took loan?" value="12"></td></tr>
  </table>

<h3 style="text-align:center;">EMI Calculation</h3>
<div class="row" style="background-color: black; color: white; font-weight: 500;">
  <div class="col-6-sm"><b>EMI Value</b></div>
  <div class="col-6-sm"><b id="emivalue">-</b></div>
  <div class="col-6-sm"><b>Total Payment</b></div>
  <div class="col-6-sm"><b id="totalpayment">-</b></div>
  <div class="col-6-sm"><b>Total Interest Payment</b></div>
  <div class="col-6-sm"><b id="interestvalue">-</b></div>
</div>

<h3 style="text-align:center;">Loan Repayment Schedule</h3>
<a class="taglink" id="printit" href="#">PRINT</a>
<div class="row" style="background-color: black; color: white; font-weight: 500;">
<table>
  <thead>
  <tr><th style="background-color: black;">Months</th><th style="background-color: black;">Principal Repayment</th><th style="background-color: black;">Interest Payment</th><th style="background-color: black;">Outstanding Loan</th></tr>
  </thead>
  <tbody id="loanstatement">
  </tbody>
</table>
</div>
</div>
</div>

##Jquery code to calculate EMI and show repayment statement on change in any input field.
<script>
  $('input').change(function(){
    $('#loanstatement').empty();
    var principal = $('#form-principal').val();
    var introw = $('#form-interest').val();
    var interest = introw/100;
    var period = $('#form-month').val();
    var emi = (parseFloat((principal * interest / 12) * [Math.pow((1 + interest / 12), period)] / [Math.pow((1 + interest / 12), period) - 1])).toFixed(0);

    $('#emivalue').html("&#8377; " + emi);
    var totalpay = (emi*period).toFixed(0);
    $('#totalpayment').html("&#8377; " + totalpay);
    $('#interestvalue').html("&#8377; " + (totalpay-principal).toFixed(0));

    var intv = (principal*(interest/12)).toFixed(0);
    var princ = (emi-intv).toFixed(0);
    var outl = (principal-princ).toFixed(0);

    for (var i=1;i<(period);i++){
      var tdata = $('<tr style="color:black;"><td>'+i+'</td><td>'+princ+'</td><td>'+intv+'</td><td>'+outl+'</td></tr>');
      tdata.appendTo('#loanstatement');
      intv = (outl*(interest/12)).toFixed(0);
      princ = (emi-intv).toFixed(0);
      outl = (outl-princ).toFixed(0);
    }
    princ = parseFloat(princ)+parseFloat(outl);
    outl = outl-outl;

    $('#loanstatement').append('<tr style="color:black;"><td>'+period+'</td><td>'+princ+'</td><td>'+intv+'</td><td>'+outl+'</td></tr>')
  });
</script>

The main formula to calculate EMI using Jquery/Javascript.

var emi = (parseFloat((principal * interest / 12) * [Math.pow((1 + interest / 12), period)] / [Math.pow((1 + interest / 12), period) - 1])).toFixed(0);

Comments: 1

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This is the best calculator and easy to use for calculating EMI on personal, business and car loan. I have used this calculator to manage my finance. I use this calculator to get repayment schedule of my home loan, car loan and personal loan.

Posted on: Dec. 4, 2021, 1:20 p.m. by Guest

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