EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay a loan, including both principal and interest.

What formula is used?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is principal, r is monthly interest rate and n is number of months.

Does a longer tenure reduce EMI?

Yes, but you'll pay more total interest over the life of the loan.

Are processing fees included?

No. The result covers principal and interest only.

It's a close estimate. Your lender's final EMI can differ slightly due to rounding and fees.

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EMI Calculator— Monthly EMI, total interest and payment.

Loan amount

₹

Interest rate (p.a.)

Tenure

yrs

Monthly EMI

₹8,678

Total interest

₹10,82,776

Total payment

₹20,82,776

Principal (48%)
Interest (52%)

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How to Use the EMI Calculator

Move the sliders or type values for loan amount, annual interest rate and tenure in years. Your monthly EMI, total interest and total payment update instantly. The donut chart shows how much of your payment is principal and how much is interest.

Frequently Asked Questions

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How to Use the EMI Calculator

Frequently Asked Questions

What is EMI?

What formula is used?

Does a longer tenure reduce EMI?

Are processing fees included?

Is the result exact?

More free tools