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EMI Calculator
Work out your monthly loan EMI, total interest and total payment.
EMI Result
What is an EMI calculator?
An EMI calculator estimates the fixed monthly payment for a loan from the amount borrowed, the yearly interest rate and the repayment period. It uses the standard reducing-balance formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r the monthly rate and n the number of months. Borrowers compare options before signing, so the monthly figure fits their salary.
How to use this EMI calculator
- Type the loan amount, for example 500000.
- Type the annual interest rate, for example 8.5.
- Type the tenure and pick Months or Years.
- Press Calculate EMI to see monthly EMI, interest and total payment.
Why use this tool
- Free loan planning with no signup, right in the browser.
- Shows EMI plus total interest so the real cost is clear.
- Accepts tenure in months or years for flexible planning.
- Handles zero-interest loans sensibly too.
Frequently Asked Questions
How is EMI calculated?
EMI follows EMI = P x r x (1+r)^n / ((1+r)^n - 1). P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and 100), and n is the number of monthly payments.
What details do I need for an EMI estimate?
You need the loan amount, the annual interest rate and the tenure in months or years. Enter all three and press Calculate EMI for the monthly figure plus totals.
Does a longer tenure always help?
A longer tenure lowers the monthly EMI but raises total interest paid. Compare both numbers here before choosing between easy months and overall cost.
Is this EMI figure final?
It is a close estimate for planning. Banks may add fees, insurance or rounding, so confirm the sanction letter before signing.