Finance Calculators
EMI Calculator
Calculate monthly EMI, total interest and total repayment for a loan.
Free foreverRuns in your browserNo sign-up
Monthly EMI
₹6,333.79
₹260,054.64
Total interest
₹760,054.64
Total payable
120
Installments
EMI uses P x r x (1 + r)^n / ((1 + r)^n - 1), where r is the monthly rate and n is the number of installments. With a zero rate, the EMI is the amount divided by the number of months.
About the EMI Calculator
The EMI Calculator finds the Equated Monthly Installment for a loan, the fixed amount you repay every month across the full tenure.
It uses the standard EMI formula, P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal, r is the monthly interest rate and n is the number of installments.
Alongside the EMI it shows the total interest and the total amount payable, so you can see the true cost of borrowing. Everything is calculated locally in your browser.
Key features
- Monthly EMI, total interest and total payable
- Tenure in years or months
- Handles zero-interest loans
- Locale-aware currency formatting
How to use
- 1Enter the loan amount and choose a currency.
- 2Enter the annual interest rate and the loan tenure.
- 3Choose whether the tenure is in years or months.
- 4Read the monthly EMI, total interest and total payable.
Frequently asked questions
- What is an EMI?
- An Equated Monthly Installment is the fixed payment you make each month, combining interest and principal so the loan is fully repaid by the end of the tenure.
- How is EMI different from a loan payment?
- They use the same formula. EMI is simply the term commonly used for monthly loan installments in many countries.
- Does a longer tenure reduce the EMI?
- Yes. A longer tenure lowers each monthly installment but usually increases the total interest you pay overall.