// EMI CALCULATOR
EMI Calculator
Find the monthly installment, total interest, and total payment for a loan at a chosen rate and tenure.
// INPUTS
₹
// OUTPUT
MONTHLY EMI
₹44,986
TOTAL INTEREST₹57,96,711
TOTAL PAYMENT₹1,07,96,711
PRINCIPAL₹50,00,000
// FORMULA
// FORMULA
EMI = P × i × (1 + i)^n / ((1 + i)^n − 1)
P = principal, i = monthly rate (annual/12), n = number of months.
// EXAMPLE
// WORKED OUT
₹50,00,000 loan at 9% for 20 years (n = 240, i = 0.0075): EMI ≈ ₹44,986 / month Total payment ≈ ₹1.08 cr Total interest ≈ ₹57.96 lakh
// WHAT THIS MEANS
EMI is the fixed monthly payment that exactly pays off a loan over its tenure. The same EMI is split each month between interest (large at first) and principal (small at first). On a 20-year home loan, the first few years are nearly all interest — which is why prepaying early saves so much.
// FAQ
Does this include processing fees or insurance?+−
No. Those are usually charged separately and not part of the EMI math.
Why does a small rate change move the EMI so much?+−
Because rate compounds across hundreds of months. On long-tenure loans a 50 bps move can change total interest by a few lakh rupees.
What if my loan is reducing balance vs flat?+−
This calculator uses the standard reducing-balance method that almost every Indian bank uses. Flat-rate loans (less common) work differently.
// RELATED CALCULATORS
// LOANS & EMI
Loan Prepayment Calculator
Interest and tenure saved by prepaying.
// COMPOUNDING
Future Value Calculator
FV of a present amount at a chosen rate.
// COMPOUNDING
Present Value Calculator
PV of a future amount discounted to today.
// INFLATION
Inflation Calculator
What today's money is worth in the future.