EMI Calculator
Calculate monthly EMI, total interest and total repayment for any loan.
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About this calculator
An Equated Monthly Instalment (EMI) is the fixed amount you pay every month to repay a loan. Each EMI contains two parts — the interest charged on the outstanding balance and a portion of your principal.
Early in the tenure most of your EMI goes towards interest; as the outstanding falls, more goes to principal. A longer tenure lowers the EMI but increases total interest paid, and vice versa.
Formula
How to use the EMI Calculator
- Enter the loan amount you plan to borrow.
- Enter the annual interest rate offered by your lender.
- Enter the tenure in years. The result updates instantly.
Frequently Asked Questions
Does this work for home, car and personal loans?
Yes — the EMI maths is identical for any reducing-balance amortising loan. Only the rate, amount and tenure differ.
What happens if I prepay part of my loan?
A prepayment reduces your outstanding principal, which either lowers future EMIs or shortens the remaining tenure depending on what your lender allows.
Is the EMI fixed for the whole tenure?
For fixed-rate loans yes. For floating-rate loans the EMI or tenure is revised when benchmark rates change.
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