How to use this tool
- Type the loan amount in rupees.
- Enter the yearly interest rate and the tenure.
- Read your EMI, total interest and the yearly table.
About this tool
EMI stands for equated monthly instalment: the fixed amount you pay every month until the loan is cleared. It is calculated with the standard formula EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate divided by 12 and by 100) and n is the number of months.
In the early years most of each EMI goes to interest, and the share going to principal grows over time. The table shows this year by year. A longer tenure lowers the EMI but increases the total interest you pay, so compare a few tenures before choosing.
The result is an estimate. Your lender may add processing fees or round amounts differently, and floating-rate loans change when the rate changes. Always check the lender's own schedule.
EMI kaise nikale? Loan amount, interest rate aur tenure daalo, monthly EMI aur total interest turant dikh jayega.
Frequently asked questions
How is EMI calculated?
With the formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), using the monthly rate r and the number of months n. This calculator applies it for you.
Does it include processing fees or insurance?
No. It shows only the principal and interest. Fees, insurance and taxes are extra and depend on your lender.
Why is the interest so high on a long loan?
Interest is charged on the outstanding balance every month, so a long tenure means paying interest for many more months. Try a shorter tenure to see the difference.