What is the EMI Calculator? An EMI calculator works out the fixed monthly payment on a loan from the principal, annual interest rate and tenure, and shows how much of it is interest versus principal over time.
How to use the EMI Calculator
- Enter the loan amount you want to borrow.
- Enter the annual interest rate offered by the lender.
- Choose the tenure in years.
- Review the EMI, total interest and the yearly principal-versus-interest breakdown.
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 monthly instalments.
Does a longer tenure reduce my EMI?
It lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Does this include processing fees?
No. It covers principal and interest only. Add lender fees, insurance and taxes separately.
Results are estimates based on the inputs you enter, not guaranteed returns or financial advice.