Learn how to calculate EMI and plan your loan repayment effectively
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan. It includes both principal and interest components, calculated based on loan amount, interest rate, and tenure.
EMI Formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]
P = Loan Amount
R = Monthly Interest Rate
N = Loan Tenure (months)
Personal Loan
Principal
₹5 lakhs
Rate
10% p.a.
Tenure
5 years
Monthly EMI
₹10,614
Auto Loan
Principal
₹8 lakhs
Rate
7.5% p.a.
Tenure
5 years
Monthly EMI
₹15,969
Home Loan
Principal
₹25 lakhs
Rate
6.5% p.a.
Tenure
20 years
Monthly EMI
₹19,331
Enter Loan Amount
Input the principal amount you need to borrow
Select Interest Rate
Choose the applicable annual interest rate
Choose Tenure
Select loan duration in months or years
View Results
Instant calculation of monthly EMI and total interest
Compare interest rates across banks
Choose shorter tenure for lower interest
Make part prepayments to reduce principal
Negotiate interest rates based on CIBIL
Consider fixed vs floating rates
Factor in processing fees in total cost
Use online calculators for comparison
Review EMI affordability before applying