About this EMI calculator
An equated monthly instalment is the fixed amount you pay every month to repay a loan. It includes both principal and interest, and the interest portion is higher in the early months. EMI calculators help you plan your borrowing before you commit.
Enter the loan amount, the annual interest rate and the tenure in years. The tool computes the monthly EMI, the total amount you will pay over the tenure and the total interest. The formula is the standard reducing-balance EMI formula.
A longer tenure lowers the EMI but raises the total interest. A shorter tenure does the opposite. Prepaying part of the principal can cut both the tenure and the interest.
Use it to compare loan offers and to check whether an EMI fits your monthly budget. Always confirm the exact rate, processing fees and prepayment terms with your lender.