EMI Calculator by Purple AppStudio is the app millions reach for before signing a home, car, or personal loan, and for good reason: you should know your monthly number before any bank tells you theirs. But checking one EMI should not require an install. So we built Loan Lens, a free EMI calculator that runs right here in your browser. No app, no ads, no signup. Move a slider and the EMI, total interest, and year-by-year schedule update instantly.
Calculate your EMI
It opens with a worked example already loaded: a ₹25,00,000 loan (25 lakh, the way Indian banks group it) at 8.5% over 20 years. Drag the sliders to make it yours.
How to use it
Set three things: loan amount, annual interest rate, and tenure in years or months. The headline is your monthly EMI, computed with the standard reducing-balance formula every bank uses: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r the monthly rate, and n the number of months. The donut next to it shows how the total you will repay splits between principal and interest, which on a 20-year home loan is often close to half and half.
The chart plots your remaining balance falling over time, with per-year bars for principal and interest paid, and the table below breaks it down year by year. Try the extra payment field: one additional EMI a year on a long home loan typically cuts years off the tenure, and the tool shows exactly how many months and how much interest you save. Your inputs stay saved on your device. Nothing leaves your browser.
How it compares to EMI Calculator
Loan Lens answers one question well: what will this loan cost me, and what happens if I prepay. The full EMI Calculator app is a broader financial toolkit. It compares two loans side by side, handles advanced scenarios like changing interest rates mid-tenure, and bundles the other calculators Indian borrowers tend to need next: GST, SIP and lumpsum investment returns, fixed and recurring deposits. It also keeps saved loan profiles, so you can revisit the exact offer a bank quoted you last week.
We kept the core loop: adjust the numbers, watch the EMI and the amortization curve move, check what prepayment buys you. We dropped saved profiles, loan comparison, and the extra calculators, on purpose, because a browser page you found mid-search should give you the answer in ten seconds.
Our honest advice: use Loan Lens while you are shortlisting, negotiating, or just curious what 0.25% off the rate is worth. Install the app when you are seriously comparing offers from multiple banks or want your scenarios saved between sessions. That is the job it does better than any web page.
Get the full app
EMI Calculator by Purple AppStudio is free on Android, works offline, and covers loans, deposits, GST, and SIP planning in one place.
Frequently asked questions
How is EMI calculated?
Banks use the reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1). P is the loan amount, r is the annual rate divided by 12, and n is the tenure in months. For ₹25,00,000 at 8.5% over 20 years that works out to about ₹21,696 a month. The calculator above runs this exact formula live as you move the sliders.
Does prepaying reduce my EMI or my tenure?
Either, but banks usually default to reducing the tenure, and that is almost always the better deal because it cuts total interest the most. Extra payments go straight at the principal, so every future month charges interest on a smaller balance. Use the extra payment field above to see the months and interest a given prepayment saves on your loan.
Can I calculate EMI online without installing an app?
Yes. The calculator on this page works in any phone or laptop browser, needs no account, and keeps working offline once the page has loaded. Your inputs are saved in your browser’s local storage on your device only.
Are the results exact?
Treat them as a close estimate, not a sanction letter. The math matches what banks use, but your actual outgo also includes processing fees, insurance, and the bank’s own rounding, and floating rates change over the life of the loan. Always confirm the final schedule with your lender.
Is this the official EMI Calculator app?
No. Loan Lens is an original tool we built, inspired by the loan-planning problem EMI Calculator solves. It is not affiliated with, endorsed by, or connected to Purple AppStudio. If you want loan comparison, saved profiles, and the full set of GST, SIP, and deposit calculators, get the app from the stores above.
