EMI Calculator

Last updated: 18-Apr-2025

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Loan Amount (₹)

Interest Rate (% p.a.)

Loan Tenure (months)

Your EMI Details

Monthly EMI

₹0

Principal Amount

₹0

Total Interest

₹0

Total Amount

₹0

If you're planning to take a loan for buying a home, car, or starting a business, understanding your Equated Monthly Installment (EMI) is essential. Our EMI Calculator makes it simple to calculate your monthly loan repayment amount. All you need to do is enter the Loan Amount, Interest Rate (% p.a.), and Loan Tenure (in months).

What is EMI?

EMI (Equated Monthly Installment) is the fixed payment made by a borrower to the lender every month until the loan is fully paid off. It includes both the principal and the interest amount.

Inputs Required

To calculate EMI, you need:

Loan Amount (P) – The total amount borrowed.
Interest Rate (R) – Annual interest rate (in %).
Loan Tenure (N) – Duration of the loan in months.

EMI Formula

The formula to calculate EMI is:

$E M I = \frac{P \times R \times (1 + R)^{N}}{(1 + R)^{N} - 1}$

Where:

$P$ = Loan Amount
$R$ = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
$N$ = Loan Tenure in Months

Other Calculations

1. Principal Amount

This is the original loan amount entered by the user.

$Principal = P$

2. Total Payment Amount

This is the total amount you will pay over the entire loan period.

$Total Amount = EMI \times N$

3. Total Interest Paid

This is the interest you will pay over the loan tenure.

$Total Interest = Total Amount - Principal$

Example Calculation

Let’s calculate the EMI for a loan with the following details:

Loan Amount (P) = ₹5,00,000
Interest Rate = 10% per annum
Loan Tenure (N) = 60 months

Step 1: Convert Annual Rate to Monthly Rate

$R = \frac{10}{12 \times 100} = 0.008333$

Step 2: EMI Calculation

$EMI = \frac{500000 \times 0.008333 \times (1 + 0.008333)^{60}}{(1 + 0.008333)^{60} - 1}$

Step 3: Total Payment

$Total Amount = 10, 624.70 \times 60 = ₹ 6, 37, 482$

Step 4: Total Interest

$Total Interest = ₹ 6, 37, 482 - ₹ 5, 00, 000 = ₹ 1, 37, 482$

Result

Description	Value
Monthly EMI	₹10,624.70
Principal Amount	₹5,00,000
Total Interest Paid	₹1,37,482
Total Amount Payable	₹6,37,482