EMI Calculator

Calculate your monthly loan EMI, total interest and total payment for home, car or personal loans.

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Monthly EMI
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Total interest
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Total payment
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About this tool

Before signing any loan, know exactly what it costs. This EMI (Equated Monthly Instalment) calculator shows your fixed monthly payment, the total interest you will pay over the life of the loan, and the full amount you will repay — with a visual split of principal versus interest.

The standard formula is EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the principal, r the monthly interest rate and n the number of months. Banks worldwide use this same formula for home, car and personal loans.

Use it to compare scenarios: a slightly lower rate or a shorter tenure can save a surprising amount of interest. Note that the result excludes processing fees, insurance and prepayment charges — ask your lender for the all-in cost before committing.

How to use

  1. Enter the loan amount you plan to borrow.
  2. Enter the annual interest rate your lender quotes.
  3. Set the tenure in years or months.
  4. Compare the EMI, total interest and principal/interest split — adjust values to test scenarios.

Frequently asked questions

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the tenure in months.

A longer tenure lowers the monthly EMI but increases total interest dramatically. A lower rate reduces both. Compare both levers here before negotiating.

No — it computes the pure EMI. Add your lender's processing fee, insurance and any prepayment charges to get the true cost of the loan.

A common rule of thumb is to keep all EMIs combined under 40% of your monthly take-home income, and under 30% for comfort.

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