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Finance Calculators

EMI Calculator

Calculate your monthly loan EMI, total interest and total payment.

Verified formula Updated Jun 2026 Private — runs on your device

Enter details
₹
%
20 years
1 years30 years
Verified formula Private

Monthly EMI

₹8,997

Principal amount
₹10,00,000
Total interest
₹11,59,342
Total payment
₹21,59,342
View chart data
Principal amount1000000
Total interest1159342

For general information only — not financial, tax, legal or medical advice. Verify before you rely on it.

How to use the EMI Calculator

The EMI Calculator works out your monthly emi, along with 3 related figures in an instant. Enter loan amount, interest rate (p.a.) and loan tenure and the result updates as you type — it is free, needs no sign-up, and runs entirely in your browser so your figures stay private.

  1. Enter the loan amount.
  2. Enter the interest rate (p.a.).
  3. Set the loan tenure.
  4. Read off your monthly emi, together with principal amount, total interest and total payment — the calculator updates automatically, with no button to press.

Worked example

For example, with loan amount of ₹1,000,000, interest rate (p.a.) of 9% and loan tenure of 20 years, the monthly emi is ₹8,997.

Inputs used
Loan amount ₹1,000,000
Interest rate (p.a.) 9%
Loan tenure 20 years
Results
Monthly EMI ₹8,997
Principal amount ₹10,00,000
Total interest ₹11,59,342
Total payment ₹21,59,342

Results are estimates for educational use, not professional advice.

Key terms explained

Interest rate
The percentage charged on a loan or paid on savings, usually quoted per year (per annum).
Principal
The original sum of money borrowed or invested, before any interest is added.
Tenure
The length of time over which a loan is repaid or an investment is held.
EMI
Equated Monthly Instalment — the fixed monthly payment on a loan covering both interest and principal.

Frequently asked questions

EMI uses the formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate and n the number of months. The calculator works it out instantly.

EMI stands for Equated Monthly Instalment — the fixed amount you repay each month on a loan, covering both interest and principal until the loan is fully repaid.

Yes. A longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan, so balance affordability against total cost.

For a fixed-rate loan, yes. For a floating-rate loan, the EMI or tenure can change whenever the interest rate is revised.

Enter the loan amount. Enter the interest rate (p.a.). Set the loan tenure. Read off your monthly emi, together with principal amount, total interest and total payment — the calculator updates automatically, with no button to press.

What Is a Good Debt-to-Income (DTI) Ratio?

A debt-to-income (DTI) ratio of 36% or below is generally considered good, and many lenders prefer your total EMIs to stay under 40–43% of your gross monthly income. The lower your DTI, the more comfortably you can take on and repay debt.

1 min read

How Loan EMIs Work: A Complete Guide

Understand exactly how your loan EMI is calculated, why early payments are mostly interest, how tenure and rate change the total cost, and how prepayment saves you money — with worked examples.

4 min read

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