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Loan EMI Calculator
Understanding Your Loan EMI
An EMI (Equated Monthly Installment) is the fixed amount you repay each month on a loan, combining both principal and interest, calculated so that the loan is fully paid off by the end of its tenure. This calculator uses the standard EMI formula: EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the loan amount (principal), R is the monthly interest rate (your annual rate divided by 12 months and 100), and N is the number of monthly installments.
In the early months of any loan, a larger share of your EMI goes toward interest, with the principal portion growing over time — this is why paying off a loan early saves more in interest than it might first appear.
How It Works
1. Enter the loan amount
The total principal you are borrowing, in rupees.
2. Enter the annual interest rate
The yearly interest rate your lender has quoted, as a percentage.
3. Enter the tenure
The total repayment period in months — for example, a 5-year loan is 60 months.
4. Calculate
Instantly see your fixed monthly EMI based on the standard reducing-balance formula.
Frequently Asked Questions
Does this include processing fees or insurance?
No, this calculates the pure EMI based on principal, rate and tenure. Banks often add processing fees, insurance premiums or other charges separately — check your loan's full cost sheet for those.
Why did my EMI change when I changed the tenure slightly?
EMI is highly sensitive to tenure because it changes how many months the interest compounds over — even a small change in tenure can noticeably shift the monthly figure.