EMI Calculator for every loan
Calculate your monthly EMI, total interest and total repayment for personal, home and car loans. Adjust the amount, rate and tenure to compare estimates.
Calculate your loan EMI
Adjust the loan details to estimate your monthly payment.
Estimate only. Actual lender EMI may differ due to fees, rate type, rounding and repayment terms. This calculator does not constitute a loan offer or financial advice.
How is EMI calculated?
For a standard fixed-rate loan with monthly repayments, EMI is calculated using the principal, monthly interest rate and number of instalments. The formula is:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Here, P is the loan principal, r is the monthly interest rate (annual rate divided by 12 and 100), and n is the total number of monthly instalments. When the interest rate is zero, EMI is simply the principal divided by the number of months.
Choose a loan type
- Personal loan: Estimate instalments for expenses such as planned purchases or consolidation. Enter the rate and repayment period quoted by your lender.
- Home loan: Explore how loan size, interest rate and a longer tenure affect monthly payments and total interest.
- Car loan: Estimate repayments for a vehicle loan. Use the financed amount after any down payment.
Frequently asked questions
EMI (Equated Monthly Instalment) is the fixed monthly payment made toward repaying a loan. It includes both principal and interest.
EMI is calculated using the loan principal, monthly interest rate and number of monthly payments. The standard reducing-balance formula is EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1).
Yes. Select Personal Loan, Home Loan or Car Loan. The tabs provide a convenient starting point; you can edit the loan amount, interest rate and tenure for your own offer.
No. The estimate uses the loan amount, annual interest rate and tenure. Lender fees, insurance, taxes and other charges are not included unless they are already reflected in the amount you enter.
It is an estimate based on the inputs. Your lender may use different rounding, disbursement dates, fees or repayment rules, so confirm the final schedule with the lender.