Use this free online EMI calculator to work out the monthly installment on your home, car, or personal loan in seconds. Enter the loan amount, annual interest rate, and tenure to instantly see your monthly EMI, total interest payable, and total repayment.
How to Use the EMI Calculator
Enter the loan amount in the "Loan Amount (₹)" field.
Enter the "Annual Interest Rate (%)" charged by your lender.
Enter the "Loan Tenure (months)" over which you'll repay the loan.
Click "Calculate EMI" to view your Monthly EMI, Total Interest Payable, and Total Payment.
Frequently Asked Questions
It uses the standard reducing-balance EMI formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the loan amount, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the loan tenure in months.
Yes. When the annual interest rate is 0, the calculator simply divides the loan amount by the tenure in months to give you an equal monthly installment with no interest component.
The loan amount and tenure must be greater than zero, and the interest rate must be zero or positive. If any of these conditions aren't met, the calculator displays "Invalid input!" instead of a result.
Yes, this EMI calculator is completely free and requires no sign-up.