EMI Calculator
Calculate your monthly loan EMI, total interest payable, and total repayment amount for home, car, or personal loans.
Results
| Monthly EMI | |
|---|---|
| Total Interest Payable | |
| Total Payment (Principal + Interest) |
What is EMI?
An Equated Monthly Instalment (EMI) is the fixed amount you repay every month toward a loan, covering both principal and interest, until the loan is fully repaid.
EMI formula used
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the principal loan amount, R is the monthly interest rate, and N is the number of monthly instalments.
How to use this tool
- Enter your total loan amount.
- Enter the annual interest rate offered by your lender.
- Enter the loan tenure in years and click Calculate to see your monthly EMI and total interest payable.
Frequently Asked Questions
Does this EMI calculator work for home, car, and personal loans?
Yes, the same reducing-balance EMI formula applies to home loans, car loans, and personal loans — just enter the relevant loan amount, rate, and tenure.
Does the EMI include processing fees or insurance?
No. This calculator only computes principal and interest based EMI. Processing fees, insurance, and other charges are not included and should be checked with your lender separately.
How can I reduce my total interest payable?
You can reduce total interest by choosing a shorter tenure, making a larger down payment, prepaying part of the loan early, or negotiating a lower interest rate.
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