Loan EMI calculator
See your monthly EMI, total interest and the year-by-year breakdown for any loan.
Processed on your device. Nothing is uploaded.
How to use it
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the tenure in years or months.
- Read your EMI, interest and schedule.
The EMI formula
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 number of monthly instalments. Banks may add processing fees and insurance, so treat this as an estimate.
Reducing your total interest
Even a small prepayment early in the loan cuts total interest noticeably, because interest is charged on the outstanding balance. Compare a 20-year and 15-year tenure above: the EMI rises a little, but the total interest usually drops by lakhs.
Frequently asked questions
Is the EMI calculator accurate?
It uses the standard reducing-balance formula used by Indian banks. Your bank's figure may differ slightly due to fees, rounding and the exact disbursal date.