How this calculation works
This calculator uses: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1). Enter your values above to get an immediate result. Results are rounded for readability.
Using the emi calculator
Start by entering values in the units shown. The result updates immediately, and the shareable link preserves your inputs without creating a separate indexable page. Use this as a clear estimate and check important assumptions before relying on it.
Common questions
What is EMI?
EMI (Equated Monthly Instalment) is a fixed payment made every month to repay a loan. It covers both the principal and the interest, so your debt reduces steadily over time.
How is EMI calculated?
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 total number of monthly instalments.
What happens if I increase my EMI?
Paying more than the required EMI reduces your principal faster, cuts total interest paid, and shortens the loan tenure. Even small extra payments make a significant difference over a long loan.
Does a longer loan tenure reduce my EMI?
Yes. Spreading repayment over more years lowers the monthly EMI, but you end up paying significantly more total interest. A 20-year loan may cost nearly double the original loan amount in interest.
Is the EMI calculation the same for home loans, car loans and personal loans?
Yes. The same formula applies to all fixed-rate loans. The difference lies in the interest rate and the loan tenure specific to each loan type.