EMI Calculator: Calculate Your Loan's Monthly Instalment
Enter your loan amount, interest rate, and tenure to see your monthly EMI, total interest, and total repayment.
Adjust Your Loan Parameters
Enter your loan amount, interest rate, and tenure to see your monthly EMI, total interest, and total repayment.
Monthly EMI
₹43,391
Figures shown are illustrative projections based on historical data and assumed rates of return. They are not a guarantee, promise, or assurance of future performance. Actual returns will vary. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
What This Calculator Shows You
The EMI calculator computes the fixed monthly instalment you would pay on a loan, using the standard reducing-balance method used by every bank and NBFC in India. You enter the loan amount, the annual interest rate, and the loan tenure in years. The calculator returns your monthly EMI, the total interest you would pay over the full tenure, and the total amount repaid (principal plus interest). For most home loans, especially longer-tenure ones, the interest portion can end up close to or even exceeding the principal, which is worth seeing clearly before you commit to a tenure.
How an EMI Calculator Fits Into Your Financial Planning
An EMI number in isolation doesn't tell you much. What matters is whether that EMI fits comfortably into your monthly budget alongside your other financial commitments, including any SIPs or savings goals you don't want to interrupt. This calculator is useful at two decision points: before taking a loan, to check what tenure and amount keeps your EMI at a sustainable share of your income (most planners suggest total EMI outflow stay under 40% of monthly income), and while comparing loan offers, since a small difference in interest rate compounds into a large difference in total interest over 15-20 years.
Use the tenure slider to see this trade-off directly: a longer tenure lowers your monthly EMI but meaningfully increases the total interest paid over the life of the loan. Getting this right at the borrowing stage protects your ability to keep investing consistently, which matters more for long-term wealth than the loan itself.
How the EMI Calculation Works
The calculator uses the standard reducing-balance EMI formula: EMI = [P × r × (1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the loan principal, r is the monthly interest rate (annual rate divided by 12 divided by 100), and n is the total number of monthly instalments. This is the formula used by every bank in India to compute home, personal, and car loan EMIs. Each instalment is the same amount throughout the tenure, but the split between principal and interest within that instalment shifts over time, with more going toward interest in the early years and more toward principal later.
Common Mistakes to Avoid When Using an EMI Calculator
A common mistake is choosing the longest available tenure purely to minimise the monthly EMI, without noticing how much extra interest that adds up to over the years. The calculator's total interest and total payment figures make this trade-off visible, so check them before deciding. Another mistake is not accounting for a floating interest rate: this calculator assumes a fixed rate for the full tenure, but many home loans have rates that move with policy changes, which will change your actual EMI over time. Remember this is a planning estimate. Actual EMI, processing fees, and eligibility depend on the lender's underwriting and the exact loan product you choose.
Frequently Asked Questions
Direct answers to the questions we hear most often. No hedging, no ambiguity.
Contact for specific questionsEMI is calculated using the reducing-balance formula: EMI = [P x r x (1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the number of months. This is the standard method used by Indian banks and NBFCs for home, car, and personal loans.
Yes, for the same loan amount and interest rate, a longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan, since interest accrues on the outstanding balance for a longer period.
Yes. The EMI formula is the same for any reducing-balance loan type. Only the typical interest rate range and tenure differ. Home loans usually run longer at lower rates, while personal loans are shorter at higher rates.
This calculator shows the EMI for a loan with no prepayments. Prepaying reduces your outstanding principal, which lowers either your remaining tenure or your EMI, depending on what your lender allows. Discuss prepayment options directly with your lender or our team.
It is a close estimate based on the reducing-balance method, but your actual EMI may differ slightly due to processing fees, rate resets on floating-rate loans, or a lender's specific rounding convention. Use this as a planning figure, then confirm the exact number with your lender.
Our Team's Credentials
AMFI MF Distributor (2823) & MF/SIF Distributor (300788)
CFP Certification, FPSB India
MDRT (6x): Rekha Guliani
LUTCF, The American College of Insurance
Chairman Club, ICICI Prudential MF
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