EMI Calculator
Work out the monthly EMI for any home, car or personal loan — plus the total interest you'll pay.
Monthly EMI
—
Principal—
Total interest—
Total payment—
PrincipalInterest
Advertisement
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until a loan is fully repaid. It includes both principal and interest.
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, and n is the number of monthly instalments.
Does this work for home, car and personal loans?
Yes. The reducing-balance EMI formula is the same for any such loan. Just enter the loan amount, interest rate and tenure for your specific loan.
What is the total interest?
It is the difference between the total of all your EMIs and the original loan amount — the extra you pay the lender for borrowing.