EMI Calculator
Estimate your monthly EMI, total interest and total repayment for a business loan, personal loan or loan against property.
- Principal
- Interest
- Principal Amount
- ₹10,00,000
- Total Interest
- ₹2,47,952
- Total Repayment Amount
- ₹12,47,952
Calculator results are indicative and actual loan terms may vary based on eligibility, assessment and applicable terms.
The formula
How Is EMI Calculated?
EMI (Equated Monthly Instalment) is calculated using the standard reducing-balance 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 tenure in months.
For example, for a loan of ₹10,00,000 at 15% per annum for 36 months, the EMI works out to about ₹34,665. These figures are only an illustration of the formula and not an offer.
- A higher loan amount increases the EMI
- A higher interest rate increases the EMI and total interest
- A longer tenure lowers the EMI but increases total interest
- Part-prepayment, where permitted, can reduce total interest
How to use
Using the EMI Calculator
- Enter or slide to the loan amount you need.
- Enter an interest rate (per annum).
- Choose the tenure in months.
- See your estimated EMI, total interest and total repayment instantly.
FAQs
EMI FAQs
Still have questions?
Speak to our team during working hours.
EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay your loan. It includes both principal and interest.
EMI is calculated as 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.
Your EMI depends on the loan amount, the interest rate and the tenure. A longer tenure reduces the EMI but increases the total interest paid over the life of the loan.
No. Calculator results are indicative and actual loan terms may vary based on eligibility, assessment and applicable terms.
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