About this tool
Calculate your monthly loan EMI instantly. Enter loan amount, annual interest rate, and tenure in months to see EMI, total interest, and total repayment.
EMI calculation formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly rate, n = months.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment towards a loan, covering both principal and interest.
How to reduce EMI?
Choose a longer tenure, negotiate a lower interest rate, or make a larger down payment to reduce the loan principal.