Free calculator
EMI Calculator
Work out your monthly loan EMI from the loan amount, interest rate and tenure. Results update as you type.
- Total interest payable
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- Total amount payable
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Reducing balance method, monthly rests. Estimates for planning — your lender's rounding may differ slightly.
How EMI works
EMI stands for Equated Monthly Instalment — the fixed sum you pay every month until a loan is cleared. Each EMI splits into interest (on what you still owe) and principal repayment. Early in the loan, most of your EMI is interest; near the end, most of it is principal.
This calculator uses the standard reducing-balance formula lenders use for home, car and personal loans in India. If your loan has a floating rate, treat the result as a snapshot at today's rate.
EMI questions, answered
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until the loan is fully repaid. It has two parts: interest on the outstanding balance and repayment of the principal.
Does a longer tenure always mean a lower EMI?
Yes, stretching the tenure lowers the monthly EMI — but you pay interest for more months, so the total interest paid goes up. Shorter tenures cost more per month but less overall.
Is the EMI the same every month?
With a fixed interest rate, yes. Early EMIs are mostly interest; later EMIs are mostly principal. If your loan has a floating rate, the EMI or tenure changes when the rate changes.