Loan EMI Calculator
Loan Amount (₹)
Interest Rate (% p.a.)
Tenure (Months)
Monthly EMI—
Total Interest—
Total Payable—
How is EMI calculated?
EMI (Equated Monthly Instalment) is calculated on the reducing balance using the formula:
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
P = loan amount, r = monthly interest rate, n = number of months
- A longer tenure lowers the EMI but increases total interest.
- A higher down payment reduces the loan amount and EMI.
- Final EMI and rate depend on the credit assessment.