EMI Calculator
🔒 In your browserMonthly EMI for home, car & personal loans, with total interest.
How it works
Work out the monthly EMI for a home, car or personal loan. Enter the loan amount, the annual interest rate, and the tenure — the calculator gives your EMI and how much of the total is interest.
An estimate for planning. Actual figures depend on your bank, employer and taxes — confirm the exact numbers with them.
🔒 Calculated entirely in your browser — nothing is uploaded.
🔒 Calculated in your browser: your loan, investment and salary figures are never uploaded. Interest, tax and salary structures vary by bank and employer, so treat the result as a close estimate and confirm exact figures with them.
About the EMI Calculator
This free EMI calculator works out the equated monthly instalment on a home, car or personal loan. Enter the loan amount, the annual interest rate and the tenure, and it shows your monthly EMI along with how much of the total you'll pay as interest.
Everything is calculated in your browser — no signup, nothing uploaded.
How EMI is calculated
An EMI keeps your monthly payment constant while the split between interest and principal shifts over time. The formula is EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (the annual rate divided by 12 and by 100), and n is the number of months. Early EMIs are mostly interest; later ones are mostly principal, which is why prepaying early saves the most.
A worked example
Take a ₹10,00,000 loan at 9% per year for 10 years (120 months). The monthly rate is 0.75%, and the formula gives an EMI of about ₹12,668. Over 120 months you pay roughly ₹15,20,000 in total, so around ₹5,20,000 of that is interest. Raise the tenure and the EMI falls but the total interest climbs; shorten it and the EMI rises while total interest drops.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate, and n is the tenure in months. This tool applies the formula and also splits out the total interest.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers the monthly EMI, but you pay more total interest because the loan is outstanding for longer. Compare a few tenures here to see the trade-off.
How does prepayment help?
Prepaying reduces the outstanding principal, and since early EMIs are mostly interest, an early prepayment cuts a large amount of future interest. Reduce the loan amount here to see the effect.
Is the interest rate monthly or yearly?
Enter the annual rate — the calculator converts it to a monthly rate internally. Most Indian loan rates are quoted per annum.
Is my data uploaded?
No. The calculation runs entirely in your browser.