EMI Calculator
Calculate monthly instalment, total interest and repayment schedule for any loan.
Results are estimates. Actual EMI may vary by lender.
An EMI (Equated Monthly Instalment) calculator is one of the most essential financial tools for anyone planning to take a loan in India. Whether you are borrowing for a home, car, education, or personal needs, understanding your monthly repayment obligation before signing the loan agreement helps you plan your finances and avoid surprises.
📋 How to Use This Calculator
Using this EMI calculator is straightforward. Enter the loan amount (principal) you wish to borrow, the annual interest rate offered by your bank or NBFC, and the loan tenure in years or months. The calculator instantly displays your monthly EMI, the total interest you will pay over the entire tenure, and the total amount payable. You can drag the sliders to adjust values and compare different scenarios in real time — for example, what happens if you increase your down payment or reduce the tenure by two years.
💡 Key Facts & Information
The EMI formula used is: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of months. Indian banks typically offer home loans between 8–9.5% p.a., car loans at 8.5–12% p.a., and personal loans at 10–24% p.a. The RBI's repo rate directly influences these lending rates. A higher tenure reduces your EMI but increases the total interest paid — often by a significant margin. For example, a ₹30 lakh home loan at 9% for 20 years costs ₹27.9 lakh in interest alone, compared to ₹14.9 lakh for a 10-year tenure.