EMI Calculator
Calculate the monthly EMI for any loan — home, car, personal — and see total interest paid.
EMI Calculator
An EMI (Equated Monthly Installment) calculator computes the fixed monthly payment required to fully repay a loan — principal plus interest — over a chosen tenure.
EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1], where P is the loan principal, r is the monthly interest rate, and n is the number of monthly installments.
Input: ₹40 lakh home loan at 9% annual interest for 20 years
Result: EMI ≈ ₹35,988/month; total interest paid ≈ ₹46.37 lakh over the tenure
Why is the total interest so much higher than the principal on a long loan?
Interest compounds on the outstanding balance every month; a longer tenure means more months of interest accrual, even though the EMI itself is lower.
Does a shorter tenure always save money?
Yes on total interest, but it raises the EMI — the Loan Prepayment Calculator shows the middle path of keeping your tenure but paying extra toward principal.
EMI Calculator: how it works
An EMI calculator gives the fixed monthly instalment on a loan, splitting each payment into interest and principal over the tenure.
Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months.