EMI Calculator
Calculate your monthly EMI, total interest and total repayment for a loan. Enter the loan amount, annual interest rate and tenure to get an instant estimate.
How to use the EMI Calculator
- Enter the total loan amount.
- Enter the annual interest rate charged by the lender.
- Choose the loan tenure in years or months.
- Select your preferred currency and press Calculate EMI.
The result shows the estimated fixed monthly payment, total interest paid across the loan and the total amount repaid.
EMI formula
For a standard reducing-balance loan, EMI is calculated using the principal amount, monthly interest rate and total number of monthly payments. If the interest rate is 0%, the calculator simply divides the principal by the number of months.
This tool is useful for personal loans, auto loans, home loans and other fixed-payment borrowing where the rate stays constant for the selected period.
EMI Calculator FAQ
What does EMI mean?
EMI means Equated Monthly Instalment: the fixed monthly payment used to repay principal and interest over a set loan term.
Does a lower interest rate reduce EMI?
Yes. With the same loan amount and tenure, a lower annual rate usually reduces both the monthly EMI and total interest.
Does a longer tenure lower EMI?
Usually yes, but extending the tenure can increase the total interest paid over the life of the loan.