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EMI Calculator

Calculate your monthly EMI, total interest payable and total repayment for home loans, car loans or personal loans — instantly.

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Monthly EMI
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Principal—
Total Interest—
Total Payment—

How is EMI Calculated?

EMI (Equated Monthly Installment) is calculated using the standard reducing-balance loan formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]

Where P = loan principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), and N = total number of monthly installments.

Example

For a ₹20,00,000 home loan at 8.5% interest for 20 years, the monthly EMI comes to approximately ₹17,357, with total interest of about ₹21.66 lakh over the loan tenure.

Note: Actual EMI may vary slightly based on processing fees, exact rate applied by your lender, and any prepayments. This is an estimate for planning purposes, not a loan offer.

EMI Calculator FAQs

EMI (Equated Monthly Installment) is the fixed monthly payment you make towards repaying a loan, covering both principal and interest.
At 8.5% interest, EMI for a ₹20,00,000 loan over 20 years is approximately ₹17,357/month.
Yes, a longer tenure reduces your monthly EMI amount, but increases the total interest you pay over the loan's life.
Making prepayments, choosing a shorter tenure, or negotiating a lower interest rate all help reduce total interest paid over the loan term.

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