Monthly EMI, total interest, and total payment for any loan amount and term.
An EMI (Equated Monthly Installment) is the fixed monthly payment you make on a loan, combining both principal and interest, calculated using the standard reducing-balance method banks use — meaning the interest portion shrinks and the principal portion grows with each payment, even though the total monthly amount stays the same. This calculator takes your loan amount, interest rate, and term, and shows your monthly payment alongside the total interest and total amount you'll pay over the life of the loan, so you can compare loan offers or terms before committing.
Enter the loan amount, annual interest rate, and loan term in months or years, then tap Calculate EMI to see your monthly payment, total interest, and total amount payable over the life of the loan.
How is EMI calculated?
Using the standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly installments.
Does this include fees or insurance?
No — this calculates principal and interest only. Add any separate fees or insurance premiums manually.