Calculate monthly interest payments and amortization values.
What is an EMI Calculator?
An EMI (Equated Monthly Instalment) calculator helps you determine the fixed monthly payment required to repay a loan over a specified period. It takes into account the principal loan amount, annual interest rate, and the loan tenure to calculate your exact monthly obligation.
The formula used is: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate, and n is the number of months. Our calculator does this instantly and also shows you total interest paid over the loan lifetime.
How to Use an EMI Calculator
- 1
Enter Loan Amount
Input the total amount you wish to borrow, e.g. ₹10,00,000 for a home loan or ₹5,00,000 for a personal loan.
- 2
Set Interest Rate
Enter the annual interest rate offered by your bank. Home loans typically range from 8–12%, personal loans from 10–24%.
- 3
Choose Loan Tenure
Select the repayment period in months or years. Longer tenure means smaller EMI but higher total interest paid.
- 4
Compare Options
Use the calculator multiple times with different tenures or rates to find the EMI that fits your monthly budget.
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