EMI Calculator
Calculate monthly loan EMI, total interest, and total payable.
Overview
Calculates the Equated Monthly Installment (EMI) for a loan from the principal, interest rate, and tenure. It shows the fixed monthly amount you would repay on a personal, car, or home loan, so you can budget before borrowing.
How it works
EMI uses the standard reducing-balance loan formula. The monthly installment equals the principal times the monthly interest rate times one plus that rate raised to the number of months, divided by that same quantity minus one. The monthly rate is the annual rate divided by 12, and the number of months is the tenure in years times 12. Each EMI is fixed, but the split shifts over time, with more going to interest early and more to principal later. These figures are estimates for planning, not a loan offer.
How to use it
- Enter the loan amount (principal).
- Enter the annual interest rate.
- Enter the tenure in months or years.
- Read your monthly EMI.
Examples
Personal loan
A loan of 500,000 at 10 percent annual interest over 5 years gives an EMI of about 10,624 a month.
Comparing tenures
A longer tenure lowers the EMI but increases the total interest you pay overall.
FAQ
What does EMI stand for?
Why does the EMI stay the same but the split change?
How does tenure affect total cost?
Is this the same math as a mortgage payment?
Is my data stored?
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