EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, and personal loans with detailed breakdown.
Loan Details
EMI Breakdown
Enter loan details to calculate EMI
About the EMI calculator
Use this calculator to estimate a fixed-rate loan's monthly Equated Monthly Installment (EMI), total repayment, total interest, and an initial amortization schedule.
How to use it
- Enter the loan principal, annual interest rate, and tenure.
- Choose whether the tenure is entered in years or months.
- Select Calculate EMI to review the payment split and first 12 scheduled payments.
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the monthly rate and n is the number of months
Example
For a ₹1,000,000 loan at 8% annual interest for 20 years, the estimated monthly EMI is about ₹8,364 before fees or other charges.
Important notes
The estimate assumes a fixed interest rate and regular monthly payments. It excludes processing fees, insurance, taxes, prepayments, and lender-specific rounding. A zero-interest loan uses principal divided by the number of payments.
Frequently asked questions
Does EMI include every cost of a loan?
No. This calculator covers principal and interest only. Check the lender's documents for fees, insurance, taxes, and other charges.