About the emi calculator
An EMI (equated monthly installment) is the fixed amount you pay each month to repay a loan. Part of every installment covers interest and the rest reduces your principal. Use this calculator before taking a home, car or personal loan to see what the loan really costs over its lifetime and to compare lenders.
Formula used
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n the number of months.
How to use
Fill in the fields above and the results update instantly. Change any value to compare scenarios. Results are estimates for planning and education and may differ from figures provided by banks, tax offices or doctors.
Frequently asked questions
How is EMI calculated?
Using the reducing-balance formula shown above. Interest is charged on the outstanding principal each month.
Does a longer tenure reduce EMI?
Yes, but you pay more total interest. A shorter tenure raises the EMI and lowers total cost.