EMI Calculator
Use this EMI calculator to find your monthly instalment for a home loan, car loan, or personal loan. Enter the loan amount, interest rate, and tenure. You can add a down payment and processing fee to see how they affect your numbers. Results update as you type—no need to click submit.
Know your exact EMI, instantly
Plan your loan with accurate monthly instalments. See how rate and tenure affect your EMI and total interest in real time.
- Accurate formula
- No data stored
- Instant calculation
₹1L – ₹500L
For ₹20,00,000 at 9.5% p.a. over 20 years.
Principal
₹ 20,00,000
Total interest
₹ 24,74,229
Total payment
₹ 44,74,229
Compare scenarios
Current plan
₹ 18,642/month
Total interest: ₹ 24,74,229
Better scenario
Shorter tenure (15 years)
₹ 20,884/month
Higher EMI, but less interest over time.
Interest saved: ₹ 7,15,020
Smart insight
A large share of your payment is interest. Consider a lower rate or shorter tenure to save significantly.
Amortization schedule
Use this EMI calculator to find your monthly instalment for a home loan, car loan, or personal loan. Enter the loan amount, interest rate, and tenure. You can add a down payment and processing fee to see how they affect your numbers. Results update as you type—no need to click submit.
EMI formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal (loan amount minus down payment), r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly instalments.
In plain terms: the bank charges interest on the reducing balance each month. Your EMI stays fixed; the principal and interest portions in each EMI change over time.
What is EMI?
EMI (Equated Monthly Instalment) is a fixed amount you pay each month towards your loan. It includes both principal and interest, so the loan is fully repaid by the end of the tenure.
How is EMI calculated?
EMI is calculated using the principal (loan amount), the annual interest rate (converted to monthly), and the number of months. The formula ensures that after all EMIs, the principal and interest are fully paid.
Can I reduce my EMI?
Yes. You can reduce EMI by increasing the down payment, negotiating a lower interest rate, or choosing a longer tenure (though that usually increases total interest).
What happens if I make a prepayment?
Prepayment reduces the outstanding principal. That can shorten your tenure or reduce future EMIs, depending on the bank's policy. Use our calculator to see current numbers; prepayment impact can be calculated separately.
Does the calculator include processing fee?
The processing fee is shown as an optional input. It typically reduces the amount you receive (disbursement). Your EMI is still calculated on the principal (loan minus down payment); the fee does not change the EMI amount.
Trust & transparency
- 100% formula-based calculations using the standard EMI formula used by banks and NBFCs.
- No personal data is stored; the numbers you enter stay in your browser.
- Designed for 2026 loan scenarios with support for common Indian loan tenures and rates.
- Built for both beginners and finance-savvy users who want transparent, easy-to-verify numbers.