Your Monthly EMI
Planning a loan? Our EMI (Equated Monthly Installment) Calculator is the perfect financial tool to help you estimate your monthly repayments before you apply. Whether you are looking for a personal loan to fund a vacation, a home loan for your dream house, or a car loan for your commute, knowing your exact financial liability is crucial. This tool simplifies complex financial math into a single click, allowing you to experiment with different loan amounts, interest rates, and tenures to find a repayment plan that fits your budget perfectly without affecting your lifestyle.
Get 100% accurate calculations in real-time as you adjust the sliders.
Designed to work seamlessly on smartphones, tablets, and desktops.
See exactly how much goes towards interest vs principal amount.
Adjust tenure to find an EMI that fits comfortably within your monthly budget.
Calculations happen on your device. We do not store your financial data.
EMI stands for Equated Monthly Installment. It is a fixed amount of money that you pay to a bank or lender at a specific date each month to repay a loan. It consists of two parts: the principal amount and the interest on the loan.
The mathematical formula for calculating EMI is:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where P is the Principal loan amount, R is the rate of interest (calculated monthly), and N is the loan tenure in months. Our calculator automates this for you instantly.
Yes, significantly. A longer tenure reduces your monthly EMI amount, making it easier to pay, but increases the total interest you pay over the life of the loan. A shorter tenure increases your EMI but saves you money on interest in the long run.
This calculator uses the standard reducing balance method used by almost all banks and NBFCs in India (like SBI, HDFC, ICICI, Bajaj Finserv). However, some lenders may add processing fees or other charges which are not included here.
