EMI Calculator
Calculate the equated monthly instalment (EMI) on any loan.
Results update as you type.
About this calculator
An EMI (equated monthly instalment) is the fixed amount you repay each month on a loan, covering both interest and principal. This calculator computes the EMI from the loan amount, annual interest rate and tenure, and shows the total interest and total payment over the life of the loan — widely used for home, car and personal loans.
Frequently asked questions
What is the EMI formula?
EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), where P is the principal, i the monthly rate (annual ÷ 12 ÷ 100) and n the number of months. It is the same amortisation maths used for any fixed-instalment loan.
Does a longer tenure reduce my EMI?
Yes, but at a cost. Stretching the tenure lowers each monthly EMI because the principal is spread over more months, yet the total interest paid rises substantially. A shorter tenure means higher EMIs but far less interest.
Results are estimates for general guidance only, not financial, medical or tax advice.