EMI Calculator

What the EMI Calculator does

The EMI Calculator works out your Equated Monthly Installment — the fixed monthly payment on a loan — from the loan amount, annual interest rate, and tenure in months, along with the total interest you'll pay and the total amount repaid over the life of the loan.

How to use it

1. Enter the loan amount.
2. Enter the annual interest rate as a percentage.
3. Enter the loan tenure in months, then click Calculate EMI.

Common uses

• Comparing monthly payments across different loan offers before choosing a lender.
• Working out how tenure length changes the monthly payment for the same loan amount.
• Budgeting monthly cash flow before committing to a home, car, or personal loan.
• Estimating total interest cost over the life of a loan versus the principal borrowed.
• Checking a lender's quoted EMI figure against an independent calculation.

Good to know

EMI is calculated using the standard reducing-balance formula, where interest is charged on the outstanding principal each month, so more of your early payments go toward interest and more of your later payments go toward principal. This calculator gives a mathematically accurate EMI figure, but actual bank offers can include processing fees, insurance, or rate variations that shift the real total cost — always compare the lender's official amortization schedule before signing.

Understanding how EMI is structured — with interest weighted more heavily in early payments — matters if you're ever considering prepaying a loan, since prepaying early in the loan term saves considerably more total interest than prepaying the same amount later on, when most of each payment is already going toward principal. This is a detail lenders don't always emphasize, but it's directly visible once you look at how the EMI breaks down month to month.