The EMI Calculator works out the monthly instalment (EMI) you will pay on a loan. Enter the loan amount, interest rate, and tenure, and it instantly shows your monthly EMI along with the total interest and total amount you will repay — plus a breakdown of how much is principal versus interest.
EMI stands for Equated Monthly Instalment — the fixed amount you pay the lender every month until the loan is cleared. Use the sliders to try different loan amounts, rates, and tenures for home loans, car loans, or personal loans, and see how each affects your monthly outgo.
How to calculate your loan EMI
- Set the loan amount (principal).
- Enter the annual interest rate offered by your lender.
- Choose the loan tenure in years.
- Read your monthly EMI, total interest, and total payment.
How the EMI is calculated
EMI is calculated with the 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. A longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Worked example: a ₹10,00,000 loan at 10% for 20 years has an EMI of about ₹9,650 per month. Over the full 240 months you repay roughly ₹23,16,000 — meaning about ₹13,16,000 of that is interest, more than the amount you originally borrowed. Shortening the tenure raises the EMI but sharply cuts the total interest.
EMI per ₹1 lakh — quick reference
The table below shows the monthly EMI for every ₹1 lakh you borrow, at common interest rates and tenures. To estimate your own EMI, multiply the figure by your loan amount in lakhs — for example, a ₹25 lakh loan at 9% for 20 years is 25 × ₹900 = about ₹22,500 per month.
Monthly EMI per ₹1,00,000 borrowed (rounded).
| Interest rate | 5 years | 10 years | 15 years | 20 years |
|---|---|---|---|---|
| 8% | ₹2,028 | ₹1,213 | ₹956 | ₹836 |
| 9% | ₹2,076 | ₹1,267 | ₹1,014 | ₹900 |
| 10% | ₹2,125 | ₹1,322 | ₹1,075 | ₹965 |
| 11% | ₹2,174 | ₹1,378 | ₹1,137 | ₹1,032 |
| 12% | ₹2,224 | ₹1,435 | ₹1,200 | ₹1,101 |
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you repay to a lender every month, covering both principal and interest, until the loan is fully paid off.
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ [(1 + r)^n − 1], where P is the principal, r is the monthly interest rate, and n is the number of months. This calculator applies the formula for you as you adjust the inputs.
Does a longer tenure reduce my EMI?
Yes — a longer tenure spreads the loan over more months, so each EMI is smaller. However, you end up paying more total interest over the loan’s lifetime.
Can I use this for home, car, and personal loans?
Yes. The EMI formula is the same for any reducing-balance loan, so this works for home loans, car loans, and personal loans. Just enter the relevant amount, rate, and tenure.
Is the EMI calculator free?
Yes — it is free, needs no sign-up, and calculates everything instantly in your browser.