EMI Calculator
Estimate your monthly loan payment, total interest and total repayment.
How EMI calculation works
An equated monthly instalment combines principal and interest into a regular monthly payment.
How to use it
- Enter the amount borrowed.
- Enter the annual interest rate.
- Enter the tenure and select months or years.
- Select Calculate EMI.
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is principal, r is the monthly interest rate and n is the number of monthly payments. At 0% interest, EMI equals principal divided by months.
Worked example
Assumptions and limitations
Informational estimate only. The calculation assumes a constant rate and monthly reducing balance. Lender rounding, changing rates, processing fees, insurance, taxes and prepayments can change actual payments.
Frequently asked questions
What is an EMI?
It is the fixed monthly payment used to repay a loan over an agreed tenure.
Does this support a zero-interest loan?
Yes. The principal is divided equally by the number of months.
Does the result include loan fees?
No. Processing fees, insurance, taxes and lender-specific charges are excluded.