EMI Calculator

Calculate your Equated Monthly Installment (EMI) for Home, Personal, or Car loans.

Calculator

₹
%
Years
1Years30Years

Monthly EMI

₹0

Total Interest Payable₹0
Total Payment (Principal + Interest)₹0

How to use this calculator

  1. Enter your loan amount in the first field.
  2. Set the annual interest rate offered by your bank.
  3. Adjust the tenure slider to match your loan period.
  4. The EMI will be calculated instantly.

Benefits

  • Plan your monthly budget effectively.
  • Compare different loan offers quickly.
  • Understand the total interest payout.

Frequently Asked Questions

What is an EMI?

EMI stands for Equated Monthly Installment. It is a fixed amount of money that you pay to a bank or lender at a fixed date of every month to repay a loan.

How is EMI calculated?

EMI is calculated using the formula: P x R x (1+R)^N / [(1+R)^N-1], where P is Principal, R is Interest Rate, and N is Tenure in months.

Does EMI change during the tenure?

Usually, EMI remains constant for fixed-rate loans. For floating-rate loans, the EMI may change if the interest rate fluctuates.