EMI (Equated Monthly Installment) is a fixed monthly payment towards your loan, including principal and interest.

How is EMI calculated?

EMI = [P × R × (1+R)^N] / [(1+R)^N−1], where P is principal, R is monthly interest rate, N is tenure in months.

EMI Calculator

Calculate loan EMI, total interest and payoff schedule.

Loan amount

₹

Annual interest rate

Tenure

months

Monthly EMI₹21,247

Total amount₹12,74,823

Total interest₹2,74,823

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.