About this emi / loan calculator
Estimate the equal monthly installment on a home, car, or personal loan from the amount borrowed, the annual interest rate, and the repayment period in years. The result breaks the loan down into the monthly payment, the total interest paid over its full term, and the total amount repaid altogether. This uses the standard reducing-balance EMI formula that most lenders use for fixed-rate loans, so you can sanity-check a lender's quote or compare two different rates or terms before committing to either one.
How the emi / loan calculator works
Monthly 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 number of monthly installments. A zero interest rate simplifies to the loan amount divided evenly by the number of months.
EMI / Loan Calculator examples
₹10,00,000 at 8.5% for 20 years
Monthly EMI ₹8,678.23 · Total interest ₹10,82,775.76
₹1,20,000 at 0% for 1 year
Monthly EMI ₹10,000.00 · Total interest ₹0.00
Limitations & privacy
Assumes a fixed interest rate for the full term with no prepayments, fees, or insurance added. Real loans may compound or apply charges differently; treat this as an estimate to compare scenarios, not a binding repayment schedule from a lender.
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EMI / Loan Calculator: frequently asked questions
What does EMI stand for?
Equal Monthly Installment: the fixed payment you make each month that covers both interest and principal over the loan term.
Does this include processing fees or insurance?
No. It calculates the pure interest-and-principal payment. Add any fees your lender charges separately when budgeting.
How does a shorter term change the EMI?
A shorter term raises the monthly EMI but lowers the total interest paid, since less time is spent accruing interest on the remaining balance.
Updated September 20, 2026