EMI Calculator
Calculate your loan EMI, total interest, and amortisation schedule.
What is an EMI?
An Equated Monthly Instalment is the fixed amount you pay every month to repay a loan — part interest, part principal. Early EMIs are mostly interest; later ones are mostly principal, as the amortisation table shows.
The 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 tenure in months.
Frequently asked questions
Should I pick a longer or shorter tenure?
A longer tenure lowers the EMI but sharply increases total interest. If you can afford a higher EMI, a shorter tenure saves a lot of money.