EMI Calculator: monthly instalment for a loan
An EMI (Equated Monthly Instalment) is the fixed amount you repay every month on a loan. This calculator finds the EMI from the loan amount, yearly interest rate and tenure.
How it is calculated
EMI = P × r × (1 + r)^n ÷ [(1 + r)^n − 1], where P is the loan, r the monthly interest rate (yearly rate ÷ 12) and n the number of months.
Worked example
A ₹30,00,000 loan at 9% for 20 years has an EMI of about ₹26,992, and total interest of about ₹34,78,027.
Frequently asked questions
Does a longer tenure reduce the EMI?
Yes, but you pay more interest overall. Compare the total interest across tenures.
Are processing fees included?
No. Fees and insurance are separate and vary by lender.
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