Calculate yourmonthly loan EMI
Calculate your Equated Monthly Instalment (EMI), total interest, and total repayment amount. Plan your loan payments with a simple and easy-to-use EMI calculator.
Free Calculator
Calculate your EMI
Enter your loan amount, interest rate, and loan tenure to instantly calculate your monthly EMI and total repayment.
Enter loan details
Enter the details of your loan
Enter the amount you want to borrow
Enter the annual interest rate charged on your loan
Enter the repayment period for your loan
EMI Formula
EMI =P × R × (1 + R)ⁿ ÷ ((1 + R)ⁿ − 1)
P = Principal loan amount, R = Monthly interest rate, and n = Number of monthly instalments.
Your Results
EMI Overview
Monthly EMI
₹0.00
Amount payable every month
Total Interest
₹0.00
Loan Amount
₹0.00
Interest Rate
0%
Total Repayment
₹0.00
How It Works
Calculate your EMI in three simple steps
Enter Loan Amount
Enter the amount you plan to borrow from the lender or financial institution.
Enter Interest & Tenure
Provide the annual interest rate and repayment period of your loan.
Get Your EMI
Instantly view your monthly EMI, total interest, and total repayment amount.
Why Use It
Simplify your loan planning
Get a clear understanding of your monthly loan obligation and overall repayment cost before taking a loan.
Understand Your EMI
What is EMI?
Equated Monthly Instalment (EMI) is the fixed amount a borrower pays every month towards repaying a loan. Each EMI generally consists of a portion of the principal amount and the interest charged by the lender.
The EMI amount depends mainly on the loan amount, interest rate, and repayment tenure. A longer tenure can reduce the monthly EMI, but it may increase the total interest paid over the life of the loan.
Using an EMI calculator helps you estimate your monthly repayment obligation and compare different loan scenarios before making a borrowing decision.
Example Calculation
FAQs
Frequently asked questions
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount a borrower generally pays every month towards repaying a loan, including principal and interest.
How is EMI calculated?
EMI is calculated using the loan principal, monthly interest rate, and total number of monthly instalments. The standard formula is P × R × (1 + R)ⁿ ÷ ((1 + R)ⁿ − 1).
What factors affect my EMI?
The main factors affecting EMI are the loan amount, interest rate, and loan tenure. Changes in any of these can change your monthly repayment.
Does a longer loan tenure reduce EMI?
Generally, a longer repayment tenure reduces the monthly EMI, but it can increase the total interest paid over the full loan period.
What is the difference between EMI and total interest?
EMI is the amount paid each month, while total interest is the total interest cost paid over the entire loan tenure.
Can I use this calculator for different types of loans?
Yes. The calculator can be used to estimate EMI for loans such as personal loans, home loans, car loans, education loans, and other amortizing loans.
Calculate your EMI before taking a loan
Use our free EMI calculator to estimate your monthly payment, total interest, and total loan repayment in seconds.
Calculate EMI