QuickFnd Calculator
EMI Calculator
Calculate monthly EMI payments for loans with ease.
Loan Calculator
About EMI Calculator
EMI Calculator computes your Equated Monthly Instalment for any loan instantly. Enter principal, annual interest rate, and tenure to get your exact monthly payment, total interest payable, and full repayment cost.
Why use EMI Calculator?
- Calculate exact EMI using the standard reducing balance formula used by banks and NBFCs.
- See total interest payable and total loan cost, not just the monthly amount.
- Compare EMIs across different tenures to find the repayment plan that fits your budget.
- Works for home loans, car loans, personal loans, education loans, and more.
How to use it
Enter the loan principal amount (the amount you want to borrow).
Enter the annual interest rate offered by your bank or lender.
Enter the loan tenure in months or years.
Click Calculate to see your monthly EMI, total interest, and total repayment amount.
Best use cases
Comparing loan offers from different banks before applying
Planning your monthly budget around a new home loan or car loan EMI
Understanding how much total interest you will pay over the loan tenure
Deciding between shorter tenure (higher EMI, less interest) vs longer tenure
Popular search variations
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EMI Calculator Online
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EMI Calculator Formula
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Free EMI Calculator
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Frequently asked questions
What is the EMI formula?
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is principal, R is monthly interest rate (annual ÷ 12 ÷ 100), and N is number of instalments. This is the standard reducing balance formula.
Does this include processing fees?
No — this calculator computes pure EMI based on principal, rate, and tenure. Banks may charge processing fees, GST, insurance, or prepayment charges separately.
What happens if I make prepayments?
Prepayments reduce the outstanding principal, reducing either your EMI or remaining tenure depending on bank policy. This calculator shows standard EMI without prepayments.
What is reducing balance vs flat rate interest?
Reducing balance charges interest only on outstanding principal each month. Flat rate charges interest on the original principal throughout. The effective rate on a flat rate loan is roughly double the stated rate.
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