EMI Calculator

Estimate your Equated Monthly Installment (EMI) for any loan amount, interest rate, and tenure. See the full amortisation schedule.

Loan Amount (₹)

Annual Interest Rate (%)

Loan Tenure

Tenure Unit

Key Takeaways & Quick Facts

Primary Purpose

Calculate monthly EMI for home, car, or personal loans.

Execution Environment

100% Client-Side In-Browser (Zero Cloud Uploads)

Standard Verification

Calculations tested against standard benchmarks

How to Use EMI Calculator

Enter the loan amount (principal).
Enter the annual interest rate (%).
Enter the loan tenure and select months or years.
Click "Calculate EMI" to see your monthly payment.
View total interest, total amount payable, and the full amortisation schedule.

How it Works

The EMI Calculator uses the standard reducing-balance (diminishing balance) formula. Each month, interest is calculated on the remaining loan balance. The EMI stays constant, but the proportion going toward principal increases over time while the interest portion decreases. The amortisation table shows the complete month-by-month breakdown.

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) Where: P = Principal (loan amount) r = Monthly interest rate (annual rate ÷ 12 ÷ 100) n = Number of monthly instalments

Examples

Input: Loan: ₹10,00,000, Rate: 8.5%, Tenure: 20 years

Result: EMI ≈ ₹8,678 | Total Interest ≈ ₹10,82,817

Input: Loan: ₹5,00,000, Rate: 10%, Tenure: 5 years

Result: EMI ≈ ₹10,624 | Total Interest ≈ ₹1,37,450

Input: Loan: ₹3,00,000, Rate: 0%, Tenure: 12 months

Result: EMI = ₹25,000 | Total Interest = ₹0

Frequently Asked Questions

What does EMI stand for?

EMI stands for Equated Monthly Instalment. It is the fixed monthly payment a borrower makes to a lender until the loan is fully repaid.

How is EMI calculated?

EMI is calculated using the reducing-balance formula: EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months.