Calculators / EMI Calculator
💳 EMI Calculator
Work out the monthly EMI for any loan — home, car, personal, or education — along with the total interest you'll pay over the full tenure.
How EMI is calculated
EMI (Equated Monthly Installment) uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments. Early EMIs are mostly interest; later ones are mostly principal.
How can I reduce my EMI?
Extend the tenure (lower EMI, but more total interest), make part-prepayments to cut the principal, or negotiate a lower rate — even 0.5% less on a long home loan saves lakhs.
Is a shorter tenure always better?
A shorter tenure sharply reduces total interest but raises the monthly EMI. Keep the EMI under about 40% of your take-home pay so a rate hike or emergency doesn't strain you.