EMI Calculator
Work out your monthly loan repayment in seconds. Enter the loan amount, annual interest rate, and tenure to instantly see your EMI, total interest, and total amount payable.
How to use
- 1
Enter the loan amount
Type the principal amount you plan to borrow.
- 2
Enter the annual interest rate
Use the rate your lender has quoted, as a percentage.
- 3
Enter the tenure
Specify the loan duration in months or years using the toggle.
- 4
View your EMI
Your monthly EMI, total interest, and total payable amount update instantly.
Examples
- Loan of ₹500,000 at 8.5% for 60 months → EMI ≈ ₹10,259/month
- Loan of ₹2,000,000 at 7.2% for 20 years → EMI ≈ ₹15,792/month
Frequently asked questions
How is EMI calculated?
EMI is calculated using the formula 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.
What's the difference between flat rate and reducing balance interest?
This calculator uses the reducing balance method, the standard for home, car, and personal loans, where interest is charged only on the outstanding principal each month.
Can I calculate EMI for a 0% interest loan?
Yes. If you enter 0 as the interest rate, the calculator simply divides the loan amount evenly across the tenure with no interest added.
Is my loan information stored anywhere?
No. All calculations happen locally in your browser. Nothing is sent to a server or saved.