Loan / EMI Calculator
Monthly EMI
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Principal amount₹0
Total interest payable₹0
Total payment (principal + interest)₹0
How EMI is calculated
EMI (Equated Monthly Installment) is the fixed amount you pay each month toward a loan, covering both principal and interest, until the loan is fully repaid. It's calculated using the reducing balance method, where interest is charged on the remaining principal each month.
The formula used is: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
What affects your EMI
A longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure raises the EMI but reduces total interest. This calculator gives you a quick way to compare different loan amounts, rates, and tenures before committing.