EMI Calculator
Our EMI Calculator helps you plan your loan repayments by computing the exact monthly installment amount based on your principal, interest rate, and tenure. Get a full amortization schedule, interest breakdown chart, and total cost analysis — all instantly, in your browser.
Monthly EMI
₹17,356
Total Interest
₹21.66 L
Total Payment
₹41.66 L
Loan Balance Over Time
Payment Breakdown
EMI Formula
EMI is calculated using the standard reducing balance formula.
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1) Where: P = Principal loan amount r = Monthly interest rate (annual rate / 12 / 100) n = Loan tenure in months
Examples
Home Loan EMI
Result: EMI: ₹43,391 | Total Interest: ₹5,41,840
For a ₹50 lakh home loan at 8.5% for 20 years, you pay ₹43,391 per month.
Car Loan EMI
Result: EMI: ₹16,768 | Total Interest: ₹2,06,080
For a ₹8 lakh car loan at 9.5% for 5 years, your EMI is ₹16,768.
Personal Loan EMI
Result: EMI: ₹9,963 | Total Interest: ₹58,668
For a ₹3 lakh personal loan at 12% for 3 years, EMI is ₹9,963.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed payment you make every month to repay a loan. It includes both principal and interest components.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is tenure in months.
Does EMI change if I make prepayments?
Yes. If you make a prepayment, your outstanding principal reduces, which either reduces your EMI or shortens your tenure depending on your bank's policy.
What is a good EMI-to-income ratio?
Financial advisors recommend keeping your total EMIs below 40–50% of your monthly take-home income to maintain financial health.
Can I calculate EMI for any loan?
Yes. This calculator works for home loans, car loans, personal loans, education loans, and any fixed-rate loan.