How to use the EMI calculator
- Enter the loan amount you plan to borrow.
- Add the annual interest rate offered by your lender.
- Set the tenure in years (or switch to months).
- Your EMI, total interest and total payment update instantly.
How is EMI calculated?
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
FAQ
Does a higher tenure reduce my EMI? Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay overall.
Is my data safe? The calculation runs entirely in your browser — nothing you type is uploaded or stored.
Will this match my bank exactly? It’s an accurate estimate. Banks may add processing fees, insurance or use slightly different rounding.