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EMI Calculator

See the monthly EMI on a loan, and how much interest it adds up to over the full tenure.

₹
%
yrs
Monthly EMI —
Total interest —
Total you repay —

Estimates only. Actual returns may differ. Taxes, charges and changing rates can affect the outcome.

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What is EMI?

An EMI is the fixed amount you repay each month on a loan, part interest, part principal. Early EMIs are mostly interest; later ones mostly principal. Seeing the total interest before you sign is the useful part.

How it's calculated

The calculator uses the standard formula EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), where P is the loan, i is the monthly rate and n is the number of months. Total interest is the sum of all EMIs minus the loan amount.

An example

Borrow ₹20 lakh at 9% over 20 years and the EMI is about ₹17,995 a month, but you repay roughly ₹43 lakh in all, so over ₹23 lakh is interest.

Questions people ask

Does a longer tenure reduce the cost?

It lowers the monthly EMI but raises the total interest, because the loan stays outstanding longer. A shorter tenure costs more each month and far less overall.

Should I prepay a loan or invest instead?

It depends on the loan rate versus what your money could earn elsewhere, and on tax. It is exactly the kind of trade-off worth talking through with an advisor.

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