EMI Calculator
Calculate your monthly EMI for home, car, or personal loans.
Loan Amount
₹
Interest Rate (% p.a.)
%
Loan Tenure (Years)
Yr
Monthly EMI
₹ 43,391
Total Interest
₹ 54,13,879
Total Payment
₹ 1,04,13,879
How is EMI Calculated?
EMI (Equated Monthly Installment) is calculated using the formula:
Where:
P = Principal loan amount
R = Monthly interest rate (Annual Rate / 12 / 100)
N = Loan tenure in months
Example
A ₹10,00,000 loan at 9% annual interest over 20 years (240 months) works out to an EMI of about ₹8,997/month, with total interest of roughly ₹11,59,280 over the loan's life.
Common Use Cases
- Comparing monthly payments across different loan amounts, rates, or tenures before borrowing.
- Planning a home, car, or personal loan budget.
- Understanding how much of each payment goes to interest vs. principal via the amortization schedule.
FAQs
What happens if interest rates change?
If you have a floating rate loan, your bank may either increase your EMI amount or extend your loan tenure when interest rates rise.
Does a longer tenure always mean I pay more?
Yes — a longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan, since interest accrues for longer.