EMI Calculator
Work out your monthly loan payment, total interest and total payable. Enter your loan details — results update instantly.
How to use this EMI calculator
- Enter the loan amount you want to borrow.
- Enter the annual interest rate (the rate your lender quotes).
- Enter the tenure in years (and any extra months).
- Click Calculate EMI to see your monthly instalment, total interest and total payable.
Amounts are formatted for easy reading (lakhs/crores supported). Everything is computed in your browser — nothing is uploaded.
EMI formula (reducing balance)
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) P = principal (loan amount) r = monthly interest rate (annual ÷ 12 ÷ 100) n = number of months (years × 12)
Example: a loan of 1,00,000 at 9% for 5 years gives a monthly EMI of about ₹2,076.
Amortization schedule
| Month | Payment | Interest | Principal | Balance |
|---|
EMI Calculator FAQs
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you repay each month, covering both interest and principal, until the loan is repaid.
How is EMI calculated?
By the reducing-balance formula above: each month you pay interest on the outstanding balance plus a slice of principal, sized so the payment stays constant.
Does a longer tenure lower my EMI?
Yes — but total interest rises dramatically because you pay interest for more months. Shorter tenures mean higher EMIs and far less interest.
Does the interest rate affect the EMI a lot?
Yes. Because interest compounds over many months, even a one-point rate rise noticeably increases both the EMI and total interest.