EMI Calculator
Enter the loan amount, annual interest rate and tenure to see your monthly instalment, total interest, and total amount repaid.
How it's calculated
This uses the standard reducing-balance EMI formula:
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1)
where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
Worked example
A loan of 20,000 at 8.5% annual interest over 36 months gives a monthly rate of 8.5 ÷ 12 ÷ 100 = 0.00708, producing an EMI of roughly 631 per month — try the calculator above for the exact figure.
Frequently asked
What formula does this EMI calculator use?
The standard reducing-balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly instalments.
Does this include fees or insurance?
No — this calculates principal and interest only, based on the rate and tenure you enter. Processing fees, insurance premiums or other charges your lender adds aren't included.