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EMI Calculator | Monthly Instalment, Total Interest & Loan Tenure
Calculate the monthly EMI, total interest and total repayment for home, car or personal loans instantly based on loan amount, interest rate and tenure.
EMI Calculator
Calculate your monthly EMI based on loan amount, interest rate and tenure.
Frequently Asked Questions
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the total number of months. In the early instalments, a large share goes towards interest.
Does a longer tenure lower the EMI but raise total interest?
Yes. A longer tenure makes the monthly instalment smaller, but since the period is longer, the total interest paid increases significantly. Compare different tenures in the calculator.
What percentage of income should the EMI be?
It is generally advised to keep the EMI below 35–40% of the family'"'"'s monthly income, leaving room for other expenses and emergency savings.
Does prepayment help?
Yes, prepaying reduces the remaining principal and the interest on it too — thousands of rupees can be saved on total interest. Check whether the bank charges a prepayment fee.