EMI Calculator
Work out your Equated Monthly Installment (EMI) for any loan by entering the amount, rate, and tenure in months.
Loan details
What is EMI?
An Equated Monthly Installment (EMI) is a fixed payment made each month toward a loan, covering both principal and interest, until the loan is fully repaid over its agreed tenure.
EMI vs. loan calculator
The math is the same amortization formula as a general loan calculator, but EMI is typically entered and discussed in months rather than years — common for personal loans and vehicle financing.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly interest rate, and n is the number of monthly installments.
Can I reduce my EMI?
Yes — a longer tenure or a lower interest rate both reduce your monthly EMI, though a longer tenure increases total interest paid.