EMI calculator
Your monthly EMI, total interest and full repayment schedule.
Monthly EMI
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Uses the standard monthly reducing-balance method most Indian banks use. Your bank's figure may differ slightly with fees, insurance or a different start date.
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How it works
- 1
Enter the loan
Amount, yearly interest rate and how long.
- 2
See your EMI
Monthly payment, total interest and total paid.
- 3
Check the schedule
Year by year or month by month, down to ₹0.
Questions
How is EMI calculated?
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. Most Indian banks use this reducing-balance method.
Why does most of my early EMI go to interest?
Interest is charged on what you still owe. Early on the balance is highest, so more of each EMI is interest; as the balance falls, more goes to the principal.
Will my bank’s EMI match exactly?
It should be very close. Small differences come from processing fees, loan insurance, the first month’s broken-period interest or rounding.
How can I pay less interest?
A shorter tenure, a lower rate or part-prepayments all cut total interest. Try a few tenures here to see the difference.