EMI Calculator
Work out the monthly EMI, total interest and total repayment on any loan. Updates as you type.
How EMI is calculated
EMI stands for Equated Monthly Instalment. Each EMI mixes interest and principal: early on you pay mostly interest, and the principal share grows over time. The formula is 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.
Tips to lower your EMI
A longer tenure lowers the monthly EMI but raises total interest, while a shorter tenure does the opposite. Even a small rate difference compounds heavily over 15–20 years, so comparing lenders and making part-prepayments early — when the interest share is highest — saves the most.
Note: this is an estimate. Actual EMIs can differ slightly because of processing fees, the exact day-count method, and whether your rate is fixed or floating.