EMI Calculator
Enter loan amount, interest rate and tenure — get monthly EMI, total interest and total payment instantly. Works for home, car and personal loans.
How to use — EMI Calculator
- Enter the loan amount you want to borrow (e.g. ₹10,00,000).
- Enter the bank's annual interest rate (e.g. 8.5%).
- Choose the tenure — in years or months.
- Click Calculate EMI — the monthly EMI, total interest, and total payment appear instantly.
- Optional: tick "Add a one-time prepayment" to see how a lump-sum payment (e.g. a bonus) affects your loan — either finishing it early or lowering your EMI.
FAQ
How is EMI calculated?
EMI formula: P × r × (1+r)^n / ((1+r)^n − 1), where P = loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = total months. This tool uses the same standard formula banks use.
Does this work for home loans, car loans, and personal loans?
Yes. The EMI formula is the same for all fixed-rate loans — just enter the correct amount, rate, and tenure.
Is my data saved anywhere?
No. All calculations happen entirely in your browser — no data is sent to any server.
Will a floating-rate loan's EMI differ from this?
With floating rates, the interest rate changes over time, so the actual EMI may change in the future. This calculator shows the EMI at the current rate.
How does the prepayment calculator work?
It simulates your loan month-by-month and applies your lump-sum payment at the month you choose, entirely toward principal (no extra interest on it). It then shows two options: keep your EMI the same and finish the loan sooner, or keep the same tenure and pay a lower EMI — either way, you save on total interest.