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Loan EMI Calculator
Find the monthly EMI on any loan before you apply. Enter the loan amount, the yearly interest rate and the tenure to see your EMI, the total interest and the total you will repay. Want help choosing a lender? Call or WhatsApp +91 70815 55505.
EMI calculator
Work out your EMI
Type the numbers or move the sliders. The result updates as you go.
Your monthly EMI
₹21,618
- Total interest
- ₹2,97,077
Total payable: ₹12,97,077
Check how much you can borrowAn estimate only. The lender’s offer decides your actual rate, EMI and charges.
How it works
How your EMI is calculated
EMI means equated monthly instalment: the fixed amount you pay the lender every month until the loan is repaid. Each EMI pays that month’s interest and repays a part of the loan amount.
- Lenders use this formula: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1).
- P is the loan amount, r is the monthly interest rate (the yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
- In the early months most of each EMI goes to interest. As the balance falls, more of each EMI repays the loan itself.
| Loan amount (P) | ₹10,00,000 |
|---|---|
| Monthly rate (r) | 10.75 ÷ 12 ÷ 100 = 0.008958 |
| Instalments (n) | 60 months (5 years) |
| Monthly EMI | ₹21,618 |
| Total interest | ₹2,97,077 |
| Total repayment | ₹12,97,077 |
Worked example: ₹10 lakh at 10.75% a year for 60 months.
Tenure and interest
How the tenure changes your EMI
The same ₹10 lakh loan at 10.75% a year, repaid over different tenures:
| Tenure | Monthly EMI | Total interest | Total repayment |
|---|---|---|---|
| 36 months (3 years) | ₹32,620 | ₹1,74,336 | ₹11,74,336 |
| 60 months (5 years) | ₹21,618 | ₹2,97,077 | ₹12,97,077 |
| 84 months (7 years) | ₹16,991 | ₹4,27,267 | ₹14,27,267 |
| 120 months (10 years) | ₹13,634 | ₹6,36,064 | ₹16,36,064 |
A longer tenure lowers the EMI but raises the total interest. Choose the shortest tenure whose EMI you can pay comfortably every month.
Keep the cost down
Six ways to keep your EMI in check
Look after your credit score
Pay every EMI and card bill on time. A clean repayment record usually earns better terms.
Borrow only what you need
For a home or property, a bigger own contribution means a smaller loan and a smaller EMI.
Pick the tenure with care
A longer tenure lowers the EMI but costs more interest overall. Use the table above to compare.
Part-pay when you can
A lump-sum payment cuts the balance, and with it the interest. Check your lender’s part-payment rules first.
Think about a balance transfer
If your current rate is high, moving the loan to another lender may lower the EMI. Count the transfer charges too.
Try the part-payment and balance transfer calculators on our all loan calculators page.
Calculators by loan
EMI calculators for each loan
Each loan page has its own calculator set to the amounts and tenures usual for that loan.
FAQs
EMI questions, answered
What is an EMI?
EMI means equated monthly instalment. It is the fixed amount you pay every month until the loan is repaid, and it covers both interest and a part of the loan amount.
Is the EMI from this calculator exact?
It is a close estimate for a loan with a fixed rate and monthly instalments. The lender’s repayment schedule can differ slightly because of the disbursement date, interest for the first broken period, rounding, or a floating rate that changes over time.
Does the EMI include processing fees and insurance?
No. The calculator shows the EMI on the loan amount only. Processing fees, insurance, taxes and other charges are listed in the lender’s Key Facts Statement. Compare the total cost of each offer, not just the EMI.
How much EMI can I afford?
Lenders look at how much of your monthly income already goes to EMIs. Our eligibility calculator assumes up to half of your net income can go to EMIs, but each lender sets its own limit. Leave room in your budget for savings and emergencies.
How does a floating rate affect my EMI?
With a fixed rate, the EMI stays the same for the fixed period. With a floating rate, the lender can change your EMI or your tenure when its benchmark rate changes. Many home loans and loans against property are on floating rates.
Can LoanBazzaar help me get a lower EMI?
We compare offers from all major banks and loan providers and help you apply where your profile fits, which can help you find better terms. The lender decides the final rate, amount and tenure, so we cannot promise a particular EMI. Talk to a loan advisor.
Hinglish mein jawaab
EMI kaise calculate hoti hai?
Loan amount, saalana interest rate aur tenure (mahine) daaliye. Calculator turant monthly EMI, total interest aur total payment dikha deta hai.
Kya tenure badhane se EMI kam hoti hai?
Haan, EMI kam hoti hai, lekin kul interest zyada lagta hai. Utna hi tenure chuniye jitni EMI aap aaram se bhar sakein.
Kya calculator ki EMI final hai?
Nahi, yeh sirf estimate hai. Final rate, EMI aur charges lender ke offer mein likhe hote hain.
Keep planning
Next steps after your EMI
Found an EMI that fits your budget?
Talk to a LoanBazzaar advisor about lenders that suit your profile. Call or WhatsApp any time, or visit our Gomti Nagar office, open 24 hours.