Estimate your Equated Monthly Installment (EMI) for a home, car, or personal loan. Enter the loan amount, annual interest rate, and tenure to see your monthly payment, total interest, and total repayment.
EMI is calculated using the standard reducing-balance formula: EMI = P × r × (1+r)n / ((1+r)n − 1), where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly installments. This is the same formula used by most banks and lenders to calculate fixed monthly payments over the life of a loan.
This calculator gives a close estimate based on the standard formula. Your actual EMI may vary slightly depending on processing fees, insurance, and your lender's specific rounding rules.
No — a longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan.