EMI Calculator – Loan EMI in Seconds
An EMI (Equated Monthly Instalment) is the fixed payment you make to a bank every month to repay a loan. This calculator works out the exact EMI for any home, car, personal or education loan using the standard banking formula — no sign-up, no lead forms, results update as you type.
The formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
FAQ
What is an EMI calculator?
It computes the fixed monthly payment required to repay a loan by the end of its tenure, given the principal, annual interest rate and time period. Banks use exactly this formula.
Why does my bank EMI differ slightly from the calculated value?
Banks may round the EMI, use actual month lengths for the first instalment, or reset rates (external benchmark lending rates). Differences are usually a few rupees per month.
What happens to my EMI if the interest rate rises by 0.5%?
On a ₹25 lakh loan over 20 years, moving from 8.5% to 9% raises the EMI by roughly ₹800/month and total interest by nearly ₹1.9 lakh.