EMI Calculator

Your EMI (equated monthly instalment) is calculated as EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months. Enter your loan details to see the monthly EMI, the total interest, and the total amount payable.

Loan amount (₹) Interest rate (% per year) Tenure (years)

Monthly EMI—

Total interest—

Total payment—

How the EMI is calculated

Monthly rate r = annual rate ÷ 12 ÷ 100.
Number of months n = tenure in years × 12.
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1).
Total payment = EMI × n. Total interest = Total payment − Loan amount.

Fact box. The EMI formula is P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly rate, and n the number of monthly instalments.

Worked example

A ₹5,00,000 loan at 11% per year for 5 years: r = 0.9167%/month, n = 60. EMI ≈ ₹10,871, total payment ≈ ₹6,52,265, total interest ≈ ₹1,52,265.

Frequently asked questions

How is EMI calculated? Using the formula EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate, and n the number of months.

Does a longer tenure reduce my EMI? Yes — a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.

Is this suitable for business loans? Yes — the EMI formula is the same for business, personal, home or vehicle loans with a fixed reducing-balance interest rate.

Sources

Standard reducing-balance EMI formula (amortisation).

General information, not professional advice. Actual EMIs depend on your lender's terms, fees and compounding. See our Disclaimer.