₹5,00,000 loan at 8.5% for 5 years
Inputs
- loanAmount
- 500000
- interestRate
- 8.5
- tenure
- 5
Result
Monthly EMI ≈ ₹10,258.27; total interest ≈ ₹1,15,495.94; total payment ≈ ₹6,15,495.94.
Finance
EMI Calculator
Calculate your monthly EMI, total interest, and total loan repayment for personal, car, home, and other loans.
EMI Calculator calculator
₹
EMI Calculator
Enter the values below to calculate your result.
₹
%
years
₹
Your result will appear here
Enter the required values and click Calculate to see your result.
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How does the emi calculator work?
Enter the loan amount, annual interest rate, and loan tenure. The calculator converts the annual interest rate into a monthly rate and uses the standard EMI formula to estimate your fixed monthly payment, total interest, and total repayment amount.
Formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)Examples
₹10,00,000 loan at 10% for 5 years
Inputs
- loanAmount
- 1000000
- interestRate
- 10
- tenure
- 5
Result
Monthly EMI ≈ ₹21,247.04; total interest ≈ ₹2,74,822.31; total payment ≈ ₹12,74,822.31.
About this calculator
An EMI calculator helps you estimate the monthly installment you may need to pay when repaying a loan. It can be useful when comparing different loan amounts, interest rates, and repayment periods.
EMI stands for Equated Monthly Installment. For a standard reducing-balance loan, the EMI calculation depends on the principal loan amount, annual interest rate, and loan tenure. The result shows the estimated amount payable each month.
A longer loan tenure can reduce the monthly EMI because the repayment is spread over more months. However, extending the tenure can also increase the total interest paid over the life of the loan.
You can use an EMI calculator to estimate payments for common loans such as personal loans, car loans, home loans, education loans, and other loans that use a standard reducing-balance repayment method.
Before taking a loan, compare the monthly EMI with your budget and consider the total repayment amount, not just the monthly installment. A lower EMI does not always mean a lower overall borrowing cost.
Frequently asked questions
What is EMI?
EMI stands for Equated Monthly Installment. It is the regular amount paid toward a loan each month over the selected repayment tenure.
How is EMI calculated?
EMI is calculated using the loan principal, monthly interest rate, and total number of monthly payments. The standard formula is EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1).
Does a higher interest rate increase EMI?
Yes. If the loan amount and tenure remain the same, a higher interest rate generally results in a higher monthly EMI and a higher total interest cost.
Does a longer loan tenure reduce EMI?
Usually, yes. A longer tenure spreads repayment over more months, which can reduce the monthly EMI. However, it can increase the total interest paid.
Can I use this EMI calculator for a home loan?
Yes. You can use the calculator to estimate EMI for home loans, personal loans, car loans, education loans, and other standard reducing-balance loans.
Does the EMI calculator include processing fees and other charges?
No. This calculator estimates EMI, total interest, and total loan repayment based on the loan amount, interest rate, and tenure. Processing fees, taxes, insurance, and other lender charges are not included.
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