EMI Calculator
Work out the monthly EMI, total interest and total payment for any loan.
Home, car or personal loan
Annual rate offered by the lender
Monthly EMI
₹43,391
for 240 months
Principal
₹50.00 L
₹50,00,000
Total interest
₹54.14 L
₹54,13,879
Total payment
₹1.04 Cr
₹1,04,13,879
How this is calculated
Formula: EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the loan amount, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of monthly instalments.
A shorter tenure means a higher EMI but far less total interest. Prepayments reduce interest sharply.
Excludes processing fees, insurance and taxes — ask your lender for the full amortisation schedule and APR.
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Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (annual ÷ 12 ÷ 100) and n the number of monthly instalments. The EMI stays fixed while the interest/principal split changes each month.
How can I reduce my total interest?
Choose a shorter tenure (higher EMI but far less total interest), make prepayments when possible, or negotiate a lower rate. Even a small rate reduction on a long home loan saves lakhs over the term.
Does this include processing fees or insurance?
No — this is the pure principal-plus-interest EMI. Lenders may add processing fees, insurance or GST on charges; ask for the full amortisation schedule and APR before signing.
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