What formula is used to calculate EMI?

This calculator uses the standard reducing-balance EMI formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is principal, r is the monthly interest rate, and n is the number of months.

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EMI Calculator

Calculate your monthly loan EMI, total interest, and total payment — free, instant, entirely in your browser.

Loan amount

Annual interest rate (%)

Loan tenure (months)

How EMI is calculated

EMI uses the standard reducing-balance formula, which front-loads interest onto the larger remaining balance early in the loan, then gradually shifts weight toward principal repayment as that balance shrinks. A longer tenure lowers the monthly amount but increases total interest paid over the life of the loan.

Frequently asked questions

This calculator uses the standard reducing-balance EMI formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is the monthly interest rate, and n is the number of months.

No, this calculator computes EMI based purely on principal, rate and tenure. Processing fees or other charges from your lender should be added separately.