🏦 EMI / Loan Calculator

Compute monthly instalments, total interest & repayment

Monthly EMI
—
Total Amount
—
Total Interest
—
Principal
—
Principal
Interest
📐
EMI Formula
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)
P = Principal  |  r = monthly rate  |  n = months
💡
Quick Tips
Longer tenure = lower EMI but more interest.
Even ₹500 extra/month can cut years off your loan.

What is an EMI Calculator?

An EMI (Equated Monthly Instalment) calculator helps you determine the fixed monthly payment you need to make on a loan. Enter your loan amount, annual interest rate, and tenure — the calculator instantly shows your EMI, total interest payable, and the total repayment amount.

This is useful for planning home loans, car loans, education loans, or personal loans. Knowing your EMI upfront helps you budget your monthly expenses and compare loan offers from different banks. A lower interest rate or shorter tenure reduces the total interest you pay.

Frequently Asked Questions

What does EMI stand for?

EMI stands for Equated Monthly Instalment — a fixed payment a borrower makes to a lender each month until the loan is fully paid off. Each EMI covers a portion of the principal plus interest accrued.

How can I reduce my EMI?

You can reduce EMI by: (1) choosing a longer repayment tenure, (2) negotiating a lower interest rate, or (3) making a larger down payment to reduce the principal. Note that a longer tenure reduces EMI but increases total interest paid.

Is the EMI formula the same for all loans?

Yes. The standard EMI formula applies to most term loans: home loans, car loans, personal loans, and education loans. However, some floating-rate loans may have varying EMIs if the interest rate changes.