EMI Calculator
Home loan, car loan & personal loan — monthly EMI in seconds
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% p.a.
Monthly EMI
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per month
Loan Breakdown
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₹0
Principal Amount
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₹0
Total Interest
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Total Payment
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0
Total Months
EMI Calculator — Home, Car & Personal Loan
An EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan. Our free EMI calculator helps you plan your finances before taking any loan — home loan, car loan, or personal loan.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
Where P = Principal, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Tenure in months.
How to Use
- Enter the Loan Amount (principal you want to borrow).
- Enter the Annual Interest Rate offered by your bank/lender.
- Enter the Loan Tenure in years or months.
- Tap Calculate EMI — get your monthly EMI instantly.
Tips to Reduce Your EMI
- Make a larger down payment to reduce the principal.
- Choose a longer tenure — reduces EMI but increases total interest.
- Negotiate a lower interest rate with your lender.
- Part-prepay whenever possible to reduce principal faster.
More Free Calculators
Worked Example
Here's a real step-by-step EMI calculation so you can verify the formula yourself.
Example: ₹30 Lakh Home Loan at 9% for 15 Years
| Loan Amount (P) | ₹30,00,000 |
| Annual Interest Rate | 9% p.a. |
| Monthly Rate (r = 9÷12÷100) | 0.0075 |
| Tenure in Months (n) | 180 |
| EMI Formula Result | ₹30,428 / month |
| Total Amount Paid | ₹54,77,040 |
| Total Interest Paid | ₹24,77,040 |
Enter these values in the calculator above to verify. Try changing the tenure to 10 years to see how much interest you save.
Frequently Asked Questions