EMI Calculator
An EMI calculator shows your monthly loan instalment and the total interest you pay for a given loan amount, interest rate and tenure.
How is EMI calculated? Read the guide →
- Monthly EMI
- Principal
- Total interest
- Total payment
Based on the reducing-balance method. Your lender may add processing fees and other charges, so check the official loan statement.
How it works
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. It uses the reducing-balance method.
Frequently asked questions
What does a longer tenure do to my EMI?
A longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Why can my actual EMI differ?
Lenders may add processing fees or insurance, or use a floating rate that changes over time. Always check the loan agreement and the statement from your lender.