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 tenure in months.

What factors affect my EMI?

Three factors directly affect your EMI: (1) Loan Amount — higher principal means higher EMI; (2) Interest Rate — a higher rate increases the interest component; (3) Loan Tenure — a longer tenure reduces monthly EMI but increases total interest paid.

Can I reduce my EMI amount?

Yes. You can reduce EMI by increasing the loan tenure, making part-prepayments to reduce outstanding principal, negotiating a lower interest rate, or making a larger down payment to reduce the borrowed amount.

Is this EMI calculator accurate for Indian banks?

Yes. Our calculator uses the standard reducing-balance (flat-to-reducing) EMI formula adopted by all RBI-regulated banks in India, including SBI, HDFC, ICICI, and Axis Bank.

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EMI Calculator

Our EMI Calculator helps you plan your finances by instantly computing the Equated Monthly Installment for any loan — home loan, car loan, p...

Loan Amount₹10.00 L

Interest Rate (% p.a.)8.5%

Loan Tenure (Years)20 yr

Monthly EMI

₹8,678

48%Principal

Total Interest

₹10.83 L

Total Payment

₹20.83 L

Results auto-saved to browser

How to Use the EMI Calculator

1
Enter your desired loan amount in the "Loan Amount" field or use the slider.
2
Input the annual interest rate offered by your bank.
3
Set the loan tenure in years using the input or slider.
4
Your monthly EMI, total interest, and total payment appear instantly.
5
Click "Save Result" to store the calculation in your browser for future reference.

About EMI Calculator

Our EMI Calculator helps you plan your finances by instantly computing the Equated Monthly Installment for any loan — home loan, car loan, personal loan, or education loan. Input your loan amount, annual interest rate, and tenure to see your monthly payment, total interest paid, and total payment amount. All calculations follow the standard reducing-balance EMI formula used by Indian banks.

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EMI Calculator — FAQ

EMI stands for Equated Monthly Installment. It is a fixed monthly payment made to a lender to repay a loan over a set period. Each EMI includes both principal repayment and interest charged on the outstanding balance.