EMI Calculator Online

Calculate exact monthly EMI, total interest and total payment for home, car or personal loans.

हिन्दी में देखें All calculators

Loan Parameters

Loan Amount (₹)

Interest Rate (% p.a.)

Loan Tenure (Years)

Monthly Loan EMI

Principal Amount: ₹25,00,000
Total Interest: ₹27,06,939
Total Payment: ₹52,06,939

Principal (48%)Interest (52%)

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How EMI Works & The Mathematical Formula

EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)

Where P = Loan principal, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), and n = Total number of monthly installments. For example, a ₹25,00,000 home loan at 8.5% for 20 years results in an EMI of ₹21,696 and total interest of roughly ₹27 lakh, more than the loan principal itself.

Frequently Asked Questions

How is loan EMI calculated?

EMI is calculated with the standard reducing-balance formula EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months. All major Indian banks use this method.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay. Doubling the tenure can nearly double the interest cost, so choose the shortest tenure whose EMI you can afford comfortably.

Can I reduce my EMI or interest after taking the loan?

Yes. A part-prepayment reduces the outstanding principal, which can cut years off your tenure, and refinancing to a lower rate reduces the interest cost. Use our loan prepayment calculator to see the exact savings.

Is this EMI calculator free and accurate?

Yes, it is free, needs no login, and uses the same reducing-balance formula as banks. Your bank's figure may differ by a few rupees due to rounding and processing fees.

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Loan comparison, prepayment savings, SIP, FD, PPF, GST and income tax. Works 100% offline, needs no login, and reminds you when an EMI is due.

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