| Month | EMI | Interest | Principal | Balance |
|---|
Assumes a standard reducing-balance loan with fixed annual rate.
An EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to the bank or lender towards your loan. It includes both the principal and the interest. Our online EMI calculator helps you:
When calculating EMIs, three key factors determine the amount you will pay:
Loan Amount – The higher the loan, the higher the EMI.
Rate of Interest – A higher interest rate increases your EMI and total interest payable.
Loan Tenure – Longer tenures reduce the monthly EMI but increase total interest. Shorter tenures increase the EMI but reduce the total repayment.
By adjusting these three variables, you can find a repayment plan that fits your financial comfort zone.
The credit and loan market is growing rapidly, with millions of borrowers relying on personal loans, home loans, car loans, and credit cards. For every type of loan, repayments are made in the form of Equated Monthly Instalments (EMIs).
Before taking a loan, it is important to know exactly how much EMI you will need to pay so you can plan your budget without financial stress. That’s where an EMI Calculator becomes an essential tool.
The standard formula used for EMI calculation is:
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where:
Our EMI Calculator uses this exact formula in the background to give you accurate results every time.
Q1: What does an EMI consist of?
An EMI has two parts: Principal (loan repayment) + Interest. Over time, the interest portion decreases and the principal portion increases.
Q2: Does EMI change every month?
For fixed-rate loans, EMI stays the same. For floating-rate loans, EMI can change when the bank updates its lending rate.
Q4: What happens if I miss an EMI?
Missing EMIs may result in penalties, higher interest, or negative impact on your credit score.
Q5: How do I reduce my EMI burden?
Options include:
You can calculate EMIs for different kinds of loans:
🏠 Home Loan EMI Calculator
Home loans usually have large amounts and long tenures (15–30 years). Our Home Loan EMI Calculator helps you plan repayments and compare interest rates from banks .
👤 Personal Loan EMI Calculator
Personal loans are unsecured and typically have shorter tenures and higher interest rates. Use our Personal Loan EMI Calculator to plan affordable monthly payments.
🚗 Car Loan EMI Calculator
Car loans often run for 3–7 years. Our Car Loan EMI Calculator helps you find the best repayment plan for new or used vehicles.
🎓 Education Loan EMI Calculator
Education loans help students fund studies in India and abroad. EMIs usually start after a moratorium period. Use the Education Loan EMI Calculator to estimate repayments.
🏢 Loan Against Property EMI Calculator
Mortgage your property and borrow against it. The Loan Against Property EMI Calculator ensures you borrow within safe repayment limits.
The results generated by this EMI Calculator are for informational purposes only. Actual EMI amounts, interest rates, and repayment schedules may vary depending on:
The policies of your bank, NBFC, or financial institution
Changes in lending rates (floating or fixed)
Processing fees, penalties, and additional charges (if applicable)
We strive to provide accurate estimates using standard financial formulas, but we do not guarantee the accuracy, completeness, or applicability of the results to your specific situation.
Before making any borrowing or investment decision, please:
Consult directly with your bank, lender, or financial advisor
Read all terms & conditions of the loan agreement carefully
Ensure your debt-to-income ratio allows safe repayment
By using this calculator, you agree that the website/author is not liable for any financial decisions taken based on these results.