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EMI Calculator
Your monthly loan payment, total interest and total cost — from the amount, rate and tenure.
Monthly EMI
How it works
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1) where r = annual rate ÷ 1200 and n = tenure in months
Worked example: borrow ₹10,00,000 at 10% a year for 20 years. The monthly rate is 0.8333% and n = 240, so the EMI is ₹9,650 a month, the total payment is ₹23,16,052 and the total interest is ₹13,16,052.
Frequently asked questions
What is an EMI?
An EMI (equated monthly instalment) is the fixed amount you pay every month until a loan is repaid. Each payment covers that month’s interest first, and the rest reduces the amount you owe.
Does a longer tenure always cost more?
A longer tenure lowers the monthly payment but raises the total interest, because interest is charged for more months. Compare both numbers, not just the EMI.
What if the rate is 0%?
With no interest the EMI is simply the loan amount divided by the number of months. This calculator handles that case instead of showing an error.
Is this an offer from a lender?
No. It is an estimate from the standard EMI formula. A lender’s actual EMI can differ with fees, the exact rate and how it compounds.