💰 EMI Calculator
Know your monthly instalment before you sign — EMI, total interest and total payable.
How to use
- Enter the loan amount you plan to borrow.
- Add the annual interest rate the lender quoted.
- Set the repayment tenure in years and click Calculate EMI.
FAQs
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r the monthly interest rate and n the number of monthly payments. This is the standard reducing-balance formula banks use.
Does this include processing fees or taxes?
No — the result covers principal and interest only. Lenders may add processing fees, insurance or GST, so treat this as a planning estimate and confirm the final figure with your lender.
Should I pick a shorter or longer tenure?
A shorter tenure means higher EMIs but much less total interest; a longer tenure lowers the EMI but you pay more interest overall. Compare both with the calculator before deciding.