EMI Calculator
Calculate your Equated Monthly Installment for any loan.
Input Values
₹
%
Years
Results
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⚠️ Results are indicative only. Consult a qualified professional before making any decisions.
What is this Calculator?
An EMI (Equated Monthly Instalment) Calculator helps you calculate the fixed monthly amount you need to pay to repay a loan over a chosen tenure. It is used for home loans, car loans, personal loans, and any other type of loan.
How to Use
1
Enter Loan Amount: Enter the total loan amount you wish to borrow (e.g. ₹10,00,000).
2
Enter Interest Rate: Enter the annual interest rate offered by the bank (e.g. 9.5%).
3
Enter Tenure: Enter the loan repayment period in years (e.g. 5 years).
4
View Results: The calculator shows your Monthly EMI, Total Interest Payable, and Total Amount Payable.
Frequently Asked Questions
EMI stands for Equated Monthly Instalment. It is the fixed monthly payment you make to the bank to repay your loan. Each EMI includes both a principal repayment and interest component.
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is loan amount, r is monthly interest rate (annual rate ÷ 12), and n is tenure in months.
Yes, a longer tenure reduces your monthly EMI but increases the total interest paid over the loan period. A shorter tenure means higher EMI but lower total interest.
Missing an EMI attracts a penalty from the bank and negatively impacts your CIBIL credit score. Always ensure sufficient balance in your account on the EMI due date.
Yes, most banks allow part prepayment. This reduces your outstanding principal and can either reduce your EMI or tenure depending on the bank policy.
Home loans typically have the lowest interest rates (8–9%) and longest tenures (up to 30 years), resulting in lower EMIs compared to personal or car loans.