EMI Calculator
Calculate loan EMI, total interest and payoff schedule.
About the EMI calculator
The EMI (Equated Monthly Installment) calculator helps you plan any loan—home, car, or personal. Enter the loan amount (principal), annual interest rate, and tenure in months or years. You will see your monthly EMI, total interest payable, and total amount. Use it to compare different tenures or rates before you approach a bank.
EMI stays the same every month; the mix of principal and interest in each payment changes over time. Early EMIs are mostly interest; later ones are mostly principal. The calculator uses the standard reducing-balance formula used by most banks in India.
₹
%
months
Your EMI
Monthly EMI₹21,247
Total amount₹12,74,823
Total interest₹2,74,823
Principal vs Interest
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EMI formula
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]\nP = Principal, R = Monthly rate (annual/12), N = Tenure in months
Equal monthly payment over the loan term; early payments are more interest, later more principal.