EMI Calculator

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the total number of months. When the interest rate is 0%, EMI is simply the loan amount divided by the number of months.

Interest is charged on the outstanding balance. Because every EMI lowers that balance, the interest portion shrinks each month while the principal portion grows — even though the EMI itself stays the same.

A longer tenure lowers your monthly EMI because the principal is spread over more months, but you pay more total interest over the life of the loan.

A shorter tenure raises the monthly EMI but cuts the total interest you pay, so the loan costs less overall.

Not necessarily. A lower EMI usually means a longer tenure and more total interest. Choose an EMI that fits your monthly budget comfortably while keeping total interest reasonable.

Lenders may use different rounding rules, day-count conventions, compounding methods, or add fees, insurance and taxes. This calculator gives an accurate standard estimate; confirm the exact figure with your bank.

Yes. Enter your home loan amount, interest rate and tenure (often 10–30 years) to see the EMI, total interest and full amortization schedule.

Yes. It works for personal loans too — these usually have shorter tenures and higher interest rates, both of which you can model here.

Yes. Enter the financed car amount, the rate and tenure to plan your car loan EMI and total cost.