EMI Calculator

How to Use EMI Calculator

Follow these simple steps to calculate your Equated Monthly Installment (EMI)

Enter Loan Amount

Input the total amount you wish to borrow. You can use the slider or type the amount directly.

Set Interest Rate

Enter the annual interest rate offered by your lender. This can be adjusted using the slider.

Choose Loan Tenure

Select the repayment period in years. Longer tenures mean lower EMIs but higher total interest.

Get Your Results

Instantly see your monthly EMI, total interest payable, and the overall repayment amount.

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Why Use Our EMI Calculator?

Our calculator provides accurate and detailed results to help you make informed financial decisions

Instant Results

Get your EMI calculation instantly with detailed breakdown of principal and interest components.

Visual Breakdown

Understand how your payment is split between principal and interest with clear visual representations.

Mobile Friendly

Use our calculator on any device - desktop, tablet, or mobile with a perfect experience.

Privacy Focused

All calculations happen locally in your browser. We never store or transmit your personal data.

Real-time Updates

See how changes to loan amount, interest rate, or tenure affect your EMI in real-time.

Completely Free

Our EMI calculator is 100% free to use with no hidden costs or premium tiers.

Frequently Asked Questions

Find answers to common questions about EMI calculations

What is EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the lender each month until the loan is fully repaid. The EMI includes both the principal amount and the interest on the loan.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12), and N is the number of monthly installments (loan tenure in months).

What factors affect my EMI?

The three main factors that affect your EMI are: (1) Loan Amount - Higher loan amount means higher EMI, (2) Interest Rate - Higher interest rate increases your EMI, and (3) Loan Tenure - Longer tenure reduces your EMI but increases total interest paid.

Can I reduce my EMI?

Yes, you can reduce your EMI by either negotiating a lower interest rate with your lender or by opting for a longer loan tenure. However, a longer tenure means you'll pay more interest over the life of the loan.

What is the difference between reducing balance and flat interest rate?

In reducing balance method, interest is calculated on the outstanding principal balance, which decreases over time. In flat interest rate method, interest is calculated on the original loan amount for the entire tenure. Reducing balance method is more common and beneficial for borrowers.

Your EMI Result