Figure out exactly what any loan will cost you per month. Our free EMI calculator takes the loan amount, annual interest rate, and tenure, then instantly shows your equated monthly installment — plus the total interest you'll pay and the total amount you'll repay over the life of the loan.
EMI is calculated with the standard reducing-balance formula used by banks. Results are estimates - actual bank offers may include fees and slightly different rounding.
Lenders advertise interest rates, but what actually matters is the monthly outgo and the total you'll repay. A small rate difference stretched over five years can mean thousands in extra interest. Our calculator uses the same reducing-balance formula banks use, and the principal-vs-interest bar reveals how much of your money goes to the lender versus actually paying down the loan — essential insight to have before you sign anything.
Equated Monthly Installment — the fixed amount you pay your lender every month until the loan is fully repaid, covering both principal and interest in each payment.
Interest is charged only on the remaining principal, so you pay less interest over time as you repay. Always compare loans on reducing-balance rates, never on flat rates, which look cheaper but cost more.
No — processing fees, insurance, and other charges are extra. This calculator shows principal plus interest only, so treat the result as a close estimate of your real cost.
Yes — the math is identical for personal, auto, and home loans. Just enter the relevant amount, rate, and tenure for each scenario you want to compare.