How to use the EMI Calculator
Enter the loan amount, annual interest rate and tenure and the result appears straight away. Everything runs in your browser, so nothing you type is uploaded.
The formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
Examples
- 10 lakh at 9% for 10 years
Monthly EMI: 12,667.58 Total payment: 1,520,109.29 Total interest: 520,109.29 Number of instalments: 120
- 500,000 at 11.5% for 36 months
Monthly EMI: 16,488 Total payment: 593,568.12 Total interest: 93,568.12 Number of instalments: 36
- 4,500,000 at 8.4% for 20 years
Monthly EMI: 38,767.7 Total payment: 9,304,248.55 Total interest: 4,804,248.55 Number of instalments: 240
Limitations and assumptions
Fixed-rate, fully amortizing loan with monthly payments. Lender fees, insurance and taxes are not included unless stated. Your lender's official disclosure takes precedence. Works in any currency.
Frequently asked questions
What is the EMI formula?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r the monthly rate and n the number of months.
Does a longer tenure lower the EMI?
Yes, but the total interest rises.
Are processing fees included?
No, only principal and interest.
Can I use it for any currency?
Yes, the maths does not depend on currency.