EMI calculator
Estimate a fixed monthly loan payment and see the total interest over the full term.
Loan details
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
This is an estimate for a fixed-rate, reducing-balance loan. Actual lender charges, taxes, insurance, and rounding may change the payment.
EMI calculator FAQ
What is an EMI?
An equated monthly instalment is a fixed payment made each month toward both loan principal and interest.
How is EMI calculated?
The standard reducing-balance formula uses the loan amount, monthly interest rate, and total number of monthly payments.
Does the estimate include processing fees?
No. It covers principal and interest only. Lender fees, insurance, taxes, and penalties are not included.
What happens if the interest rate is zero?
The loan amount is divided evenly by the number of monthly payments.