About the EMI Calculator
An Equated Monthly Instalment (EMI) is the fixed amount you repay each month on a loan — part interest, part principal. This calculator shows your monthly EMI, the total interest paid and the total repayment across the tenure.
How EMI is calculated
EMI uses the reducing-balance formula: each month interest is charged on the outstanding balance, and the rest of the EMI reduces the principal. A higher rate or longer tenure raises the total interest you pay.
Borrow smart, invest smarter
Before taking on an EMI, make sure the repayment fits comfortably within your budget and leaves room to keep investing. Even while repaying a loan, a small monthly SIP keeps your long-term goals on track.
EMI Calculator — frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r the monthly interest rate and n the number of months. The calculator applies this reducing-balance method.
Does a longer tenure reduce EMI?
Yes — a longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan. The calculator shows both.
Is this EMI figure exact?
It is an accurate estimate on the reducing-balance method. Your lender’s processing fees, insurance or rate type (fixed vs floating) can change the actual outgo.