EMI Calculator
Calculate monthly EMI, total interest and total payment for any loan.
How it works
EMI (Equated Monthly Instalment) is calculated using the standard reducing-balance loan formula:
EMI = P × r × (1+r)n ÷ ((1+r)n - 1)
where P is the principal (loan amount), r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments (tenure in years × 12).
Example
A ₹10,00,000 loan at 9.5% annual interest for 20 years works out to an EMI of roughly ₹9,320 per month, with total interest of about ₹12.4 lakh over the loan's life.
Frequently asked questions
Does this include processing fees or insurance?
No. This calculates the pure EMI on principal and interest. Banks may add processing fees, insurance premiums or other charges separately.
What if my loan has a floating interest rate?
Enter the current rate to get today's EMI estimate. Floating-rate EMIs will change if the bank revises the rate; re-run the calculator with the new rate to see the updated figure.
Is this financial advice?
No, this is an educational estimate based on standard EMI formulas, not financial advice. Confirm exact figures with your lender.
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