EMI Calculator
Work out loan EMIs, total interest and the full amortisation schedule.
Monthly EMI
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- Principal
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- Total interest
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- Total payment
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About this tool
Work out the monthly EMI for a home, car or personal loan, along with the total interest and total amount payable. Adjust the loan amount, interest rate and tenure to compare scenarios.
How to use it
- 1 Enter the loan amount.
- 2 Enter the annual interest rate.
- 3 Set the tenure in years or months.
- 4 See your EMI, total interest and total payment update instantly.
Frequently asked questions
How is EMI calculated?
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 months.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Is this accurate for home loans?
It gives an accurate EMI for a fixed interest rate. Floating-rate loans will vary as the rate changes.