EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loan, car loan, personal loan, or any other loan. Plan your finances with our comprehensive EMI calculator.

Loan Details

Loan Amount ₹50,00,000
₹
₹10K ₹1Cr ₹2Cr ₹3Cr ₹5Cr
Enter loan amount or use slider (₹10,000 to ₹5 Crores)
Annual Interest Rate 8.5%
%
1% 5% 10% 15% 20%
Enter annual interest rate or use slider (1% to 20%)
Loan Tenure
20 years
years
1 year 5 years 10 years 20 years 30 years
Enter loan tenure or use slider (1 to 30 years)
Monthly EMI
₹43,391
Total Payment
₹1,04,13,879
₹54,13,879
Total Interest Payable
₹50,00,000
Principal Amount

Year-wise Breakup

Year Principal Paid Interest Paid Balance

About EMI Calculator

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. This EMI calculator helps you calculate your monthly loan installment based on loan amount, interest rate, and tenure.

How EMI Calculator Works

  • The calculator uses the formula: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1] where P = principal, r = monthly interest rate, n = tenure in months.
  • It calculates both the monthly EMI and the total interest payable over the loan tenure.
  • The amortization table shows the year-wise breakup of principal and interest payments.
  • You can adjust the loan amount, interest rate, and tenure to see different scenarios.

Types of Loans Covered

  • Home Loan: Calculate EMI for housing loans with varying interest rates.
  • Car Loan: Plan your car purchase with accurate EMI calculations.
  • Personal Loan: Calculate EMI for personal loans with different tenures.
  • Education Loan: Plan education financing with our EMI calculator.
  • Business Loan: Calculate business loan EMIs for better financial planning.
Note: This calculator provides an estimate based on the inputs provided. Actual EMI may vary based on processing fees, prepayment charges, and other factors. Always consult with your bank for exact EMI calculations.

What is EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the bank each month to repay your loan, which includes both principal and interest components.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1] where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the loan tenure in months.

What factors affect EMI?

Three main factors affect EMI: 1) Loan Amount (higher amount = higher EMI), 2) Interest Rate (higher rate = higher EMI), 3) Loan Tenure (longer tenure = lower EMI but higher total interest).

What is the difference between reducing balance and flat rate interest?

Reducing balance calculates interest on the remaining principal, decreasing over time. Flat rate calculates interest on the original principal for the entire tenure. Most loans use reducing balance method.