EMI Calculator (India)

This EMI calculator helps you estimate your monthly Equated Monthly Installment (EMI) for home loans, car loans, and personal loans in India based on loan amount, interest rate, and tenure.

It also shows the total interest payable and total amount paid over the full loan tenure.

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How EMI Is Calculated

EMI is calculated using the standard formula:

EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)

• P = Loan amount (principal)
• r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
• n = Loan tenure in months

This formula ensures that the EMI remains constant throughout the loan tenure, with the interest component higher in the initial years and the principal component increasing gradually.

Common Loan Types in India

• Home Loan: Long tenure (15–30 years) with relatively lower interest rates.
• Car Loan: Medium tenure (5–7 years) with moderate interest rates.
• Personal Loan: Short tenure (1–5 years) with higher interest rates.

Important Notes & Disclaimer

• This calculator provides an estimate, not exact figures.
• Actual EMI may vary based on processing fees and lender policies.
• Interest rates can be fixed or floating.
• Prepayments and part-payments are not considered.

For exact EMI values, refer to your lender’s amortization schedule.