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EMI Calculator
Calculate your monthly EMI
Monthly EMI
₹43,391Total interest: ₹54,13,879 · Total payment: ₹1,04,13,879
How EMI is calculated
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is your loan amount, r is the interest rate per month (annual rate ÷ 12), and n is the number of monthly installments (tenure in years × 12). Each installment is a mix of interest and principal — early payments are interest-heavy, later ones are principal-heavy, though the total EMI stays the same throughout.
This is an estimate for planning purposes, not financial advice.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay your lender every month until a loan is fully repaid — it includes both principal and interest.
How is EMI calculated?
EMI is calculated using the reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
Does a lower interest rate always mean a lower EMI?
Yes, all else equal — a lower rate reduces both your EMI and the total interest paid over the loan's life.
Is this figure exact?
This is an estimate for planning purposes. Your lender's actual EMI may differ slightly due to processing fees, exact disbursement dates, or a floating rate that changes over the loan term.
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