Plan your loans with precision. Calculate installments and interest breakdown instantly.
Use the slider or type directly in the box to set the total amount you want to borrow.
Enter the expected annual interest rate. The calculator updates instantly.
Choose how many years you'll take to repay. Check the chart for interest vs principal breakdown.
Detailed chart showing the ratio of interest to principal in your total payment.
EMI and totals recalculated instantly as you adjust any loan parameter.
An EMI Calculator is a convenient online tool designed to help you determine the Equated Monthly Installment (EMI) for your loan. It simplifies the process by calculating the EMI based on three key factors: loan amount, interest rate, and loan tenure.
The calculator features interactive sliders for adjusting the loan amount, tenure, and interest rate. Once you input your details, it instantly provides the monthly payment amount required to repay your loan within your chosen timeframe, eliminating the need for complex manual calculations.
The formula for the EMI Calculator is derived from the reducing balance method of interest calculation. It can be expressed as:
EMI = [P * r * (1 + r)^n] / [(1 + r)^n – 1]
Where:
( EMI ) = Equated Monthly Installment
( P ) = Loan principal amount
( r ) = Monthly interest rate (annual interest rate divided by 12)
( n ) = Loan tenure in months
Example: If you borrow ₹ 5,00,000 for 5 years at a 10% annual interest rate, your monthly EMI would be approximately:
₹ 10,582