EMI formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is principal, r is the monthly rate and n is the number of payments.
Free loan planning tool
EMI calculator for smarter borrowing.
Estimate your monthly loan instalment, total interest and overall repayment. Adjust the amount, annual rate and tenure to compare loan scenarios instantly.
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Adjust your loan
Calculate your monthly EMI
₹10K₹1Cr
0%30%
Yr
1 year30 years
Understand your loan
How the EMI calculation works
The calculator uses the standard reducing-balance EMI formula. Interest is applied monthly to the outstanding loan balance.
Compare scenarios
Try different interest rates and tenures to see how a smaller EMI can increase the total interest cost.
Plan with a buffer
Keep room in your monthly budget for processing fees, insurance, rate changes and other loan-related costs.
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EMI calculator questions
Frequently asked questions
What is EMI and how is it calculated?+
EMI means Equated Monthly Instalment. It is calculated from the loan principal, monthly interest rate and number of monthly payments using the reducing-balance loan formula.
Does a lower interest rate reduce my EMI?+
Yes. For the same principal and tenure, a lower annual interest rate reduces both the monthly EMI and total interest payable.
Should I choose a longer loan tenure?+
A longer tenure usually lowers the monthly EMI but increases the total interest paid. Compare affordability with the overall borrowing cost before deciding.
Does this EMI calculator include processing fees?+
No. The estimate uses only principal, interest rate and tenure. Processing fees, insurance, taxes, pre-EMI interest and lender-specific charges are not included.
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