How to use this EMI calculator (3 steps)
- Enter your loan details: principal amount (₹), annual interest rate and loan term in years or months.
- Check the EMI and totals: the tool shows your monthly EMI, total amount paid and total interest.
- Tune and share: change rate or term to see the impact, then copy the URL to share the scenario. If you fill both years and months, they are added (for example, 2 years and 6 months = 30 months).
How it’s calculated
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
- P: principal
- r: monthly interest rate (APR ÷ 12)
- n: number of payments (months)
Values are rounded to paise and formatted using Indian number grouping (Intl.NumberFormat with hi-IN / INR).
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan. Each EMI includes both interest and principal so that the loan is fully paid off by the end of the term.
Use this EMI calculator to compare different home loans, car loans or personal loans quickly before talking to your lender.
FAQ
What can I check with this EMI calculator?
You can see the fixed monthly EMI in INR, total repayment, and total interest for a standard India-style loan using principal, annual interest rate, and term.
Does this EMI calculator support prepayments or changing EMIs over time?
No. This tool assumes a standard loan with a fixed monthly EMI and no prepayments. If you plan to make lump-sum prepayments or have a more complex repayment schedule, please check your lender’s official calculator or talk to a financial advisor.
Which currency and rounding does this page use?
The English EMI page formats amounts as INR with Indian number grouping and rounds displayed currency to paise. Keep lender quotes in the same currency before comparing.
Why can lender EMI results differ?
Lenders may use different fee handling, day-count rules, interest reset rules, or rounding. Match the principal, rate, tenure, and fee assumptions before comparing monthly EMI.
Can I use this for prepayment planning?
No. This page models a fixed EMI with no prepayments or rate changes. Use it as an educational estimate and confirm actual repayment schedules with the lender.