EMI Calculator
Calculate your monthly loan EMI, total interest and total payment.
Results are estimates for information only, not financial advice. See how we build and verify our calculators.
Work out the Equated Monthly Instalment (EMI) for any loan — home, car, personal or business. Enter the loan amount, annual interest rate and tenure to see your monthly EMI, the total interest you'll pay, and the total amount payable over the loan.
How to use the EMI Calculator
- Enter the loan (principal) amount.
- Enter the annual interest rate (%).
- Enter the tenure in months or years.
- See your monthly EMI, total interest and total payment update instantly.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
Does a longer tenure reduce my EMI?
Yes — a longer tenure lowers the monthly EMI, but you pay more total interest over the life of the loan. The calculator shows that trade-off clearly.
Is this EMI calculator accurate for home loans?
Yes. The reducing-balance formula it uses is the standard method banks apply for home, car and personal loans on a fixed interest rate.