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🏦 EMI Calculator

How to use: Enter the loan amount, annual interest rate and tenure in years or months. EMI, totals, the chart and the yearly schedule update as you type.

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About the EMI Calculator

Find your monthly loan instalment before you borrow. Enter the loan amount, interest rate and tenure, and the EMI Calculator shows your EMI, the total interest, the total payment and a year-by-year schedule of principal and interest.

Use it to compare offers from different banks or see how a shorter tenure cuts the interest you pay.

How to use the EMI Calculator

  1. Enter the loan amount in rupees.
  2. Enter the annual interest rate.
  3. Enter the tenure and choose years or months.
  4. Read the EMI, totals, the chart and the yearly schedule.

Features

  • Works for home, car, bike, education and personal loans
  • Principal vs interest chart
  • Yearly amortisation schedule
  • Instant, free and private

Frequently asked questions

What is the EMI formula?

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 months.

Does a longer tenure reduce EMI?

Yes, the EMI goes down, but you pay much more interest in total. The schedule shows the difference.

Does this include processing fees or insurance?

No. It calculates the EMI on the loan amount and rate only. Ask your lender about fees and charges.

Is the result exact?

It matches the standard reducing-balance method used by most Indian banks. Your bank's figure may differ slightly due to rounding or the date of the first EMI.

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