EMI Calculator
Calculate your monthly EMI, total interest and total payment for any loan.
Estimates only — not professional financial, medical, legal or engineering advice. Read full disclaimer.
Calculating...
Result
Fill in the form and click Calculate to see your result here.
How it's calculated
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate and n is the number of monthly installments.
Example
Example: EMI Calculator
Inputs
- Loan Amount: 1000000
- Annual Interest Rate: 8.5
- Tenure Years: 20
Outputs
- Monthly Emi: 8678.23
- Total Interest: 1082775.76
- Total Payment: 2082775.76
This example uses typical sample values. Adjust the inputs above to see how the results change for your own numbers.
About this calculator
The EMI Calculator computes your Equated Monthly Installment for a loan based on the principal amount, annual interest rate and loan tenure, using the standard reducing-balance formula banks use for home, car and personal loans.
Frequently Asked Questions
EMI uses the reducing-balance formula: EMI = P×r×(1+r)ⁿ ÷ ((1+r)ⁿ−1), where P is principal, r is the monthly interest rate and n is the number of months. The calculator applies this automatically.
Yes, spreading the loan over more months lowers the monthly installment, but increases the total interest paid over the life of the loan.
With a 0% rate, EMI simply becomes the principal divided evenly by the number of months, with no interest component.