EMI Calculator
Instant results as you type.
₹
%
months
₹
₹
year
Fill in the values — results appear instantly.
For education and planning only. Your bank or lender’s actual figures can differ — fees, rounding, day-count conventions and local rules vary. Always confirm the final numbers with your provider before deciding.
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1) · r = yearly rate ÷ 12 ÷ 100 · standard reducing-balance method
An EMI calculator tells you the fixed monthly payment on a loan from just three numbers: the amount you borrow, the yearly interest rate, and how many months you'll repay over. It uses the standard reducing-balance method that banks and lenders use worldwide, so the figure you see is close to what a lender would quote. Everything runs in your browser — nothing you type is sent anywhere.
How to use it
- Enter the loan amount, the yearly interest rate, and the tenure in months.
- Your monthly EMI, total interest, and total payment appear instantly as you type.
- Scroll down to the year-by-year schedule to see how each payment splits between interest and principal.
Examples
- ₹1,00,000 at 12% for 12 months → EMI ₹8,884.88 (total interest ₹6,618.55).
- ₹25,00,000 home loan at 8.5% for 20 years → EMI ₹21,695.58.
Frequently asked questions
- How is EMI calculated?
- EMI uses the formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly rate (yearly rate ÷ 12 ÷ 100), and n is the number of months. It's the reducing-balance method: each payment first covers that month's interest on the outstanding balance, and the rest reduces what you owe.
- What happens to my EMI if interest rates change?
- On a fixed-rate loan the EMI stays the same for the whole tenure. On a floating-rate loan, most lenders keep the EMI steady and adjust the tenure instead — or revise the EMI at reset dates. Re-run the numbers with the new rate to see the effect.
- Is it better to reduce EMI or tenure when prepaying?
- Reducing the tenure usually saves far more interest, because you cut months off the most interest-heavy part of the loan. Reducing the EMI eases monthly cash flow but you pay for longer. Try both in the calculator and compare the total interest.
- Does this match my bank's EMI exactly?
- It matches the standard reducing-balance EMI to the rupee. Small differences can come from processing fees, insurance added to the loan, a different day-count convention, or rounding. Always confirm the final figure with your lender.