EMI calculator

Calculate a loan EMI

Enter the amount, the annual interest rate and the tenure. The result shows the monthly instalment, total interest and the share of your payments that is interest.

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Short answer: EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) andn the number of months. Enter your numbers above to see the instalment, the total interest and the total you will pay.

Estimates only. The EMI here is arithmetic on the numbers you enter: fees, insurance, processing charges and floating-rate changes are not included. It is not financial advice.

Worked example

₹5,00,000 at 10.5% for 5 years (60 months) gives an EMI of about ₹10,746. Over the tenure you repay roughly ₹6,44,760, of which about ₹1,44,760 is interest. Change any field to see your own numbers.

What the total does not include

Processing fees and the GST charged on them.
Property insurance, loan insurance or documentation charges.
Penalties, part-prepayment charges or floating-rate changes.

This is an estimate for planning. Your lender's amortisation schedule is the authoritative figure.

EMI questions

Which formula is used?

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the annual rate divided by 12 and 100, and n is the number of months. At 0% the formula is replaced by P / n.

Why is the displayed EMI rounded?

It is shown to two decimals for readability, but total payment and total interest are computed from the unrounded instalment so the arithmetic stays consistent. Banks may round differently and add processing fees, insurance or taxes, which are not modelled here.

Does this include processing fees or prepayment?

No. It is a pure instalment calculation. Fees, GST on fees, insurance and part-prepayment charges change the effective cost and are not part of this estimate.

What tenure units can I use?

Months or years. Years are converted to whole months; a value that would produce a fractional month is rejected rather than silently rounded.

Calculate a loan EMI

Result

Worked example

What the total does not include

EMI questions

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