What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you generally pay every month toward repaying a loan.
FREE ONLINE CALCULATOR
EMI Calculator
Calculate your monthly loan payment, total interest and total amount payable. Plan your loan before you borrow.
01 Enter loan details
$
Enter the amount you want to borrow %
Enter the annual interest rate #
Plan your loan
Enter your loan amount, interest rate and repayment period to calculate your estimated monthly EMI.
01 Enter loan details
02 Click calculate
02 Click calculate
UNDERSTAND YOUR LOAN
Know your payment before you borrow.
Why use an EMI calculator?
It helps you estimate your monthly payment and understand how much interest you may pay over the life of your loan.
When should you use it?
Use it before taking a home loan, car loan, personal loan or other installment-based loan to compare different repayment options.
HOW EMI WORKS
Your EMI combines principal + interest.
Each monthly payment is made up of two parts: repayment of the original amount borrowed (principal) and the interest charged by the lender. At the beginning of many loans, a larger portion of the payment goes toward interest. As the loan balance decreases, more of the payment goes toward the principal.
EMI FORMULA EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1) P = Principal · r = Monthly interest rate · n = Number of monthly payments