EMI Calculator
Work out the monthly EMI on any loan.
10,500.93
Monthly EMI
130,055.84
Total Interest
630,055.84
Total Payable
Free online EMI calculator. Enter a loan amount, annual interest rate and tenure in months to get your monthly EMI, total interest and total payable amount instantly. Runs in your browser.
How to use the EMI Calculator
- 01Enter the loan amount you want to borrow.
- 02Enter the annual interest rate and the tenure in months.
- 03See your monthly EMI, total interest and total payable update live.
Frequently asked questions
How is EMI calculated?
EMI uses the reducing-balance formula EMI = P·r·(1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate and n is the number of months. When the rate is zero it is simply the principal divided by the tenure.
Is the interest rate monthly or annual?
You enter the annual rate. The calculator converts it to a monthly rate by dividing by 12 before computing the EMI.