⚡ Free Online Calculator

EMI Calculator

Calculate your monthly loan EMI, total interest and total repayment amount instantly.

Loan Amount (₹)

₹

Annual Interest Rate (%)

Loan Tenure (Months)

                    Monthly EMI
                    ₹0.00
                

Total Interest ₹0.00

Total Payment ₹0.00

What is an EMI Calculator?

An EMI Calculator helps you estimate the fixed monthly payment required to repay a loan. Enter your loan amount, interest rate and tenure to calculate your estimated EMI.

EMI Formula

The standard reducing-balance EMI formula is:

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)

Frequently Asked Questions

What is EMI?

EMI stands for Equated Monthly Instalment. It is the regular amount paid by a borrower towards repayment of a loan.

Does a higher interest rate increase EMI?

Yes. Keeping the loan amount and tenure unchanged, a higher interest rate generally increases the monthly EMI and total interest payable.

Does a longer tenure reduce EMI?

A longer tenure can reduce the monthly EMI, but it can also increase the total interest paid over the entire loan period.