EMI Calculator
Enter the loan amount, interest rate and tenure to find your exact monthly installment, total interest and total amount payable.
Before signing any loan agreement, you need to know exactly what the monthly installment will be and how much interest you will pay over the full tenure. This free EMI calculator uses the standard reducing-balance formula banks apply, so you can compare loan offers, plan your monthly budget and avoid surprises later.
Enter the loan amount, annual interest rate and tenure in years, then press Calculate EMI.
How to use the EMI Calculator
- Type the total loan amount you plan to borrow into the first box.
- Enter the annual interest rate quoted by the bank and the loan tenure in years.
- Press Calculate EMI to see your monthly installment, total interest and total amount payable.
EMI Calculator — FAQs
Is this EMI calculator free?
Yes, it is completely free with no signup and no limits. Compare as many loan scenarios as you like, and every calculation runs privately in your own browser without your financial details being uploaded anywhere.
What formula does the EMI calculator use?
It uses the standard reducing-balance formula: EMI equals P times r times (1 plus r) to the power n, divided by (1 plus r) to the power n minus 1, where r is the monthly interest rate and n is the number of months. This is the same method banks use for personal, home and car loans.
Does the result include processing fees or taxes?
No. The calculation covers principal and interest only. Banks often add processing fees, insurance and taxes on top, so ask your lender for the full schedule and add those charges to the total payable shown here.
What if the interest rate is zero?
A zero-interest loan is handled correctly: the tool simply divides the loan amount by the number of months, so the monthly installment is the loan amount divided by the tenure, with zero total interest charged.