Loan / EMI Calculator
EMI, total interest and total repayment for personal, car or any loan.
How EMI is calculated
EMI (Equated Monthly Installment) uses the same amortization formula banks use: EMI = P·r(1+r)n / ((1+r)n−1). Enter the loan amount, annual interest rate and tenure to see your fixed monthly payment plus the total interest you will pay over the life of the loan.
How to lower your EMI
You can reduce EMI by extending the tenure (costs more interest overall), negotiating a lower rate, or making a larger down payment. Use the fields above to test each scenario in seconds.
Frequently asked questions
Does EMI change during the loan?
For fixed-rate loans, no. For floating-rate loans the EMI or tenure adjusts when the benchmark rate changes.
What tenure should I choose?
The shortest tenure whose EMI fits comfortably in your budget — total interest grows quickly with longer tenures.