EMI Calculator
Work out the monthly EMI, total interest and total payment for a home, car or personal loan.
Monthly EMI
Total interest
Total payment
How to use EMI Calculator
- Enter the loan amount.
- Enter the yearly interest rate.
- Enter the tenure in years or months and read your EMI.
Features
- Instant results while you type
- Principal and interest split
- Works for 0 percent loans
Supported formats and limitations
This is an estimate using the reducing-balance method. Banks may add fees or round the EMI slightly differently.
How it works
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly rate (yearly rate / 12 / 100) and n is the number of months. Example: Rs 5,00,000 at 9 percent for 5 years gives an EMI of about Rs 10,379.
Frequently asked questions
Does a longer tenure reduce the EMI?
Yes, the EMI becomes smaller, but you pay more total interest.
Does this include processing fees?
No. Add any bank fees separately.