EMI Calculator for Home, Car and Personal Loans
Enter the loan amount, interest rate and tenure to see your monthly EMI and total interest.
- Nothing you type is stored
- Free
- No signup
How to use
- Enter the loan amount.
- Enter the yearly interest rate.
- Enter the tenure in months. The EMI updates as you type.
Good to know
This uses the standard reducing-balance formula with monthly rests, which most banks use.
Processing fees, insurance and prepayment are not included.
Your bank's final EMI may differ slightly because of rounding and fees.
Questions
What is the EMI formula?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of months.
Does a longer tenure reduce EMI?
Yes, but you pay more interest in total.
Does it include processing fees?
No. Add them separately.
Is this financial advice?
No. It is a calculator for planning.
Is my data stored?
No. Everything is calculated on your device.