EMI Calculator

An EMI (Equated Monthly Installment) is the fixed monthly amount you pay to repay a loan over a chosen tenure. Whether you are planning a home loan, car loan, personal loan, or education loan, knowing your EMI in advance helps you budget smartly and avoid financial stress.

Our free online EMI Calculator gives you instant, accurate results. Simply enter your loan amount, interest rate, and tenure — and get your monthly EMI, total interest payable, and total amount payable in seconds. No sign-up. No downloads. Works on mobile and desktop.

Using our EMI Calculator is simple and takes less than a minute:

1. Enter Loan Amount (Principal): Type the total loan amount you wish to borrow. For example, ₹10,00,000 for a home loan.
2. Enter Annual Interest Rate: Enter the interest rate offered by your bank. For example, 8.5% per annum.
3. Enter Loan Tenure: Enter the repayment period in months or years. For example, 20 years (240 months).
4. Click Calculate: Your EMI, total interest, and total payment are shown instantly.

EMI Formula:

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)

Where: P = Principal loan amount, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Loan tenure in months.

Example: For a ₹10,00,000 loan at 8.5% p.a. for 20 years:

r = 8.5 ÷ 12 ÷ 100 = 0.00708  |  n = 240

EMI = 10,00,000 × 0.00708 × (1.00708)^240 / ((1.00708)^240 − 1) = ₹8,678

Manually calculating EMI using the formula is complex and error-prone. Our online EMI Calculator eliminates this hassle:

• Instant Results: Get your EMI in milliseconds — no waiting, no manual math.
• Plan Your Budget: Know exactly how much goes out of your pocket every month before you commit to a loan.
• Compare Loans: Adjust interest rates and tenures to compare offers from SBI, HDFC, ICICI, Axis, and other Indian banks.
• Amortization Breakdown: See how much of each EMI goes toward principal vs interest over the loan life.
• Free & Unlimited: Use as many times as needed — no charges, no registration.