Calculate your monthly EMI for any loan. Adjust the sliders to see results instantly.

What is EMI?

EMI (Equated Monthly Instalment) is the fixed amount you pay to the bank every month until your loan is fully repaid. Each EMI includes both principal repayment and interest, with the interest component higher in the early months and the principal component higher towards the end.

How EMI is Calculated

This calculator uses the standard reducing balance formula:

EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)

Where P is the loan principal, r is the monthly interest rate (annual rate / 12), and n is the total number of months.

For example, a home loan of ₹50 lakhs at 8.5% for 20 years results in an EMI of approximately ₹43,391. Over 20 years, you pay ₹54.1 lakhs in interest - more than the loan amount itself.

Tips for Reducing Your EMI Burden

  • Increase your down payment to reduce the loan principal.
  • Choose a shorter tenure - the EMI is higher but total interest paid is significantly lower.
  • Compare rates across banks. Even a 0.25% difference saves lakhs over a 20-year loan.
  • Make prepayments whenever you have surplus funds. Most banks allow this without penalty on floating-rate loans.