🏦 EMI / Loan Calculator — Monthly Installment & Interest

Know your loan's monthly installment and total interest — in advance.

Before taking a loan, find out the monthly EMI, total interest and total payable amount. For bank, car or home loans — all of them.

Note: This is an estimate based on the reducing-balance EMI formula. Bank charges/fees are not included.

How to Use?

  1. Enter loan amount, annual interest rate and duration.
  2. Press Calculate.
  3. See monthly EMI, total interest and total amount.

EMI Formula

EMI = P × r × (1+r)n ÷ ((1+r)n − 1)
where P = loan amount, r = monthly interest rate, n = total months.

Frequently Asked Questions

What is EMI?
Equated Monthly Installment — a fixed monthly payment covering both principal and interest.
What difference does a lower interest rate make?
A big one — e.g. on a 5-year Rs 1M loan, 15% vs 20% differs by about Rs 150,000.
Is the processing fee included?
No, bank fees/charges apply separately.

Last updated: 30 September 2026 · Category: Calculators