Calculating your monthly EMI is straightforward once you know the EMI formula and what each input means. This guide explains the method in plain language, walks through a manual calculation, and gives worked examples you can follow — then you can do it instantly with the EMI Calculator.
What is EMI?
Calculate your monthly loan EMI, total interest and total payment. The figure you are solving for here is the monthly EMI, expressed in INR.
The EMI formula
This calculation combines several inputs through a multi-step method rather than a single one-line formula. Enter the values below and the calculator resolves each step in order. The inputs it needs are:
- Loan amount — a money amount. Example: ₹10,00,000.
- Interest rate (p.a.) — a percentage, such as an annual rate. Example: 9%.
- Loan tenure — a value you set on the slider. Example: 20 years.
How to calculate it step by step
- Write down the loan amount (for example, ₹10,00,000).
- Write down the interest rate (p.a.) (for example, 9%).
- Note the loan tenure (for example, 20 years).
- Apply the formula above to get your monthly EMI.
- Double-check the result with the EMI Calculator.
Worked examples
Example 1
| Input / Output | Value |
|---|---|
| Loan amount | ₹10,00,000 |
| Interest rate (p.a.) | 9% |
| Loan tenure | 20 years |
| Monthly EMI | ₹8,997 |
| Principal amount | ₹10,00,000 |
| Total interest | ₹11,59,342 |
| Total payment | ₹21,59,342 |
With loan amount of ₹10,00,000, interest rate (p.a.) of 9% and loan tenure of 20 years, the monthly EMI works out to ₹8,997.
Example 2
With loan amount of ₹20,00,000, interest rate (p.a.) of 9% and loan tenure of 20 years, the monthly EMI works out to ₹17,995.
| Result | Value |
|---|---|
| Monthly EMI | ₹17,995 |
| Principal amount | ₹20,00,000 |
| Total interest | ₹23,18,685 |
| Total payment | ₹43,18,685 |
Example 3
With loan amount of ₹5,00,000, interest rate (p.a.) of 9% and loan tenure of 20 years, the monthly EMI works out to ₹4,499.
| Result | Value |
|---|---|
| Monthly EMI | ₹4,499 |
| Principal amount | ₹5,00,000 |
| Total interest | ₹5,79,671 |
| Total payment | ₹10,79,671 |
Tips for an accurate result
- Keep your units consistent — mixing, say, months with years or grams with kilograms is the most common source of error.
- Round only at the very end. Rounding inputs early can shift the final answer noticeably.
- Re-run the numbers whenever an input changes, rather than estimating from an old result.
- Annual rates must be converted to the period you are calculating for (for example, divide an annual rate by 12 for a monthly figure).
Prefer not to do the maths by hand? — the EMI Calculator does it instantly, for free, with the formula and a worked example built in.
Related calculators
Continue exploring finance calculators with these tools: SIP Calculator, CAGR Calculator, FD Calculator, Effective Annual Rate (EAR) Calculator, RD Calculator.